Toronto Dominion Bank Boosts Position in Molson Coors Beverage (NYSE:TAP)

Toronto Dominion Bank raised its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 38.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,500 shares of the company's stock after acquiring an additional 26,198 shares during the quarter. Toronto Dominion Bank's holdings in Molson Coors Beverage were worth $5,436,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp increased its stake in Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after purchasing an additional 681,757 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Molson Coors Beverage by 66.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company's stock valued at $274,341,000 after buying an additional 2,155,842 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Molson Coors Beverage by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company's stock valued at $131,130,000 after buying an additional 434,685 shares during the last quarter. River Road Asset Management LLC raised its stake in Molson Coors Beverage by 1.8% during the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company's stock worth $96,475,000 after acquiring an additional 29,315 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in Molson Coors Beverage in the third quarter valued at $48,202,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded up $0.13 on Friday, reaching $61.07. 1,326,539 shares of the stock were exchanged, compared to its average volume of 1,904,661. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.58 billion, a PE ratio of 13.75, a PEG ratio of 2.38 and a beta of 0.85. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The business has a fifty day moving average price of $58.53 and a two-hundred day moving average price of $55.01.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. As a group, research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 39.64%.

Wall Street Analysts Forecast Growth

TAP has been the topic of several research reports. Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Hsbc Global Res downgraded Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. TD Cowen reduced their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating for the company in a research note on Tuesday, October 8th. BNP Paribas initiated coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a "neutral" rating and a $64.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $62.00.

Molson Coors Beverage Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.