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Molson Coors Beverage (NYSE:TAP) Shares Bought by First American Trust FSB

Financial News Live ·  Sep 27, 2022 11:51

First American Trust FSB lifted its stake in shares of Molson Coors Beverage (NYSE:TAP – Get Rating) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,630 shares of the company's stock after purchasing an additional 2,986 shares during the quarter. First American Trust FSB's holdings in Molson Coors Beverage were worth $3,305,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in Molson Coors Beverage by 15.9% in the first quarter. Fifth Third Bancorp now owns 7,596 shares of the company's stock valued at $405,000 after purchasing an additional 1,044 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Molson Coors Beverage by 60.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,357 shares of the company's stock valued at $339,000 after buying an additional 2,401 shares during the period. IFM Investors Pty Ltd raised its position in Molson Coors Beverage by 9.0% in the second quarter. IFM Investors Pty Ltd now owns 33,398 shares of the company's stock worth $1,821,000 after acquiring an additional 2,769 shares in the last quarter. Elo Mutual Pension Insurance Co raised its position in Molson Coors Beverage by 82.8% in the first quarter. Elo Mutual Pension Insurance Co now owns 25,889 shares of the company's stock worth $1,382,000 after acquiring an additional 11,723 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in Molson Coors Beverage in the fourth quarter valued at $941,000. 79.22% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Redburn Partners raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating in a research note on Wednesday, July 13th. Credit Suisse Group reduced their price target 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. The Goldman Sachs Group raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, June 28th. Bryan, Garnier & Co downgraded Molson Coors Beverage from a "buy" rating to a "sell" rating and set a $54.00 price objective for the company. in a research note on Thursday, September 1st. Finally, UBS Group upped their target price on Molson Coors Beverage from $54.00 to $58.00 and gave the company a "neutral" rating in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $53.50.

Molson Coors Beverage Trading Up 1.5 %

Shares of TAP traded up $0.70 during mid-day trading on Tuesday, hitting $48.19. The company had a trading volume of 5,712 shares, compared to its average volume of 1,200,628. Molson Coors Beverage has a 1-year low of $42.46 and a 1-year high of $60.12. The business's 50-day simple moving average is $54.16 and its 200-day simple moving average is $54.01. The stock has a market cap of $10.44 billion, a PE ratio of 14.09, a P/E/G ratio of 2.87 and a beta of 0.85. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.48.

Molson Coors Beverage (NYSE:TAP – Get Rating) last posted 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 company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter last year, the firm posted $1.58 earnings per share. Molson Coors Beverage's revenue was down .6% on a year-over-year basis. Sell-side analysts forecast that Molson Coors Beverage will post 3.91 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 2nd were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 1st. This represents a $1.52 dividend on an annualized basis and a yield of 3.15%. Molson Coors Beverage's dividend payout ratio (DPR) is 45.10%.

Molson Coors Beverage 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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