Private Advisor Group LLC lifted its stake in shares of Molson Coors Beverage (NYSE:TAP – Get Rating) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,662 shares of the company's stock after acquiring an additional 1,449 shares during the period. Private Advisor Group LLC's holdings in Molson Coors Beverage were worth $2,053,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Kentucky Retirement Systems lifted its holdings in shares of Molson Coors Beverage by 1.8% during the 1st quarter. Kentucky Retirement Systems now owns 12,009 shares of the company's stock worth $641,000 after acquiring an additional 214 shares during the period. Mutual of America Capital Management LLC increased its position in Molson Coors Beverage by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 24,880 shares of the company's stock worth $1,328,000 after purchasing an additional 260 shares in the last quarter. M&T Bank Corp increased its position in Molson Coors Beverage by 4.9% during the 1st quarter. M&T Bank Corp now owns 6,138 shares of the company's stock worth $326,000 after purchasing an additional 287 shares in the last quarter. CKW Financial Group increased its position in Molson Coors Beverage by 22.2% during the 1st quarter. CKW Financial Group now owns 1,650 shares of the company's stock worth $86,000 after purchasing an additional 300 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Molson Coors Beverage by 4.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,494 shares of the company's stock worth $400,000 after purchasing an additional 300 shares in the last quarter. 79.22% of the stock is currently owned by hedge funds and other institutional investors.
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Analyst Upgrades and Downgrades
TAP has been the subject of several recent research reports. Credit Suisse Group lowered their price objective on shares of Molson Coors Beverage from $50.00 to $49.00 and set an "underperform" rating for the company in a research report on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Molson Coors Beverage from $54.00 to $52.00 in a research report on Wednesday, August 3rd. Bryan, Garnier & Co downgraded shares of Molson Coors Beverage from a "buy" rating to a "sell" rating and set a $54.00 price objective for the company. in a research report on Thursday, September 1st. Sanford C. Bernstein lowered their price objective on shares of Molson Coors Beverage to $57.00 in a research report on Tuesday, August 9th. Finally, The Goldman Sachs Group raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price objective for the company from $46.00 to $54.00 in a research report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and an average target price of $53.56.
Molson Coors Beverage Stock Up 1.5 %
TAP stock opened at $48.32 on Thursday. Molson Coors Beverage has a twelve month low of $42.46 and a twelve month high of $60.12. The company has a current ratio of 0.82, a quick ratio of 0.57 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $10.47 billion, a P/E ratio of 14.34, a PEG ratio of 2.85 and a beta of 0.85. The firm has a 50 day simple moving average of $53.75 and a 200-day simple moving average of $53.92.
Molson Coors Beverage (NYSE:TAP – Get Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.19 earnings per share for the quarter, hitting analysts' consensus estimates of $1.19. Molson Coors Beverage had a net margin of 5.73% and a return on equity of 6.46%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the company earned $1.58 earnings per share. The business's quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that Molson Coors Beverage will post 3.91 earnings per share for the current fiscal year.
Molson Coors Beverage Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, September 2nd were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 3.15%. The ex-dividend date was Thursday, September 1st. Molson Coors Beverage's dividend payout ratio (DPR) is presently 45.10%.
Molson Coors Beverage Company Profile
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Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.
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