UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 36,665 Shares of Molson Coors Beverage (NYSE:TAP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,182,509 shares of the company's stock after selling 36,665 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.57% of Molson Coors Beverage worth $68,018,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Cetera Investment Advisers boosted its stake in Molson Coors Beverage by 613.8% during the 1st quarter. Cetera Investment Advisers now owns 44,954 shares of the company's stock valued at $3,023,000 after purchasing an additional 38,656 shares during the period. Cetera Advisors LLC acquired a new stake in Molson Coors Beverage in the 1st quarter worth $1,670,000. DNB Asset Management AS increased its holdings in shares of Molson Coors Beverage by 6.2% during the 2nd quarter. DNB Asset Management AS now owns 37,499 shares of the company's stock worth $1,906,000 after purchasing an additional 2,201 shares during the period. Park Avenue Securities LLC increased its holdings in shares of Molson Coors Beverage by 136.0% during the 2nd quarter. Park Avenue Securities LLC now owns 13,430 shares of the company's stock worth $683,000 after purchasing an additional 7,739 shares during the period. Finally, CWM LLC raised its position in shares of Molson Coors Beverage by 99.2% during the second quarter. CWM LLC now owns 11,198 shares of the company's stock valued at $569,000 after buying an additional 5,576 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on TAP. JPMorgan Chase & Co. boosted their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. UBS Group raised their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Barclays increased their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an "underweight" rating in a research report on Monday, November 11th. TD Cowen decreased their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a report on Tuesday, October 8th. Finally, Piper Sandler increased their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $60.00.

Molson Coors Beverage Price Performance

Shares of TAP traded down $0.33 during mid-day trading on Tuesday, hitting $61.48. 2,099,363 shares of the company traded hands, compared to its average volume of 1,998,909. 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 business has a 50-day moving average of $57.57 and a 200 day moving average of $54.56. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The stock has a market capitalization of $12.67 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 2.39 and a beta of 0.85.

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 for the quarter, topping analysts' consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate 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 company posted $1.92 earnings per share. As a group, equities analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.86%. Molson Coors Beverage's payout ratio is presently 39.64%.

Molson Coors Beverage Company 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.