The Manufacturers Life Insurance Company reduced its stake in shares of Molson Coors Beverage (NYSE:TAP – Get Rating) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,334 shares of the company’s stock after selling 7,566 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Molson Coors Beverage worth $7,263,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Molson Coors Beverage by 1.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,760 shares of the company’s stock worth $564,000 after acquiring an additional 204 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Molson Coors Beverage by 2.4% in the third quarter. Daiwa Securities Group Inc. now owns 12,073 shares of the company’s stock worth $579,000 after purchasing an additional 283 shares during the period. First American Trust FSB boosted its holdings in Molson Coors Beverage by 0.5% in the third quarter. First American Trust FSB now owns 60,927 shares of the company’s stock worth $2,924,000 after purchasing an additional 297 shares during the period. Auxier Asset Management boosted its holdings in Molson Coors Beverage by 0.3% in the second quarter. Auxier Asset Management now owns 112,216 shares of the company’s stock worth $6,117,000 after purchasing an additional 300 shares during the period. Finally, Venture Visionary Partners LLC boosted its holdings in Molson Coors Beverage by 3.3% in the second quarter. Venture Visionary Partners LLC now owns 9,295 shares of the company’s stock worth $507,000 after purchasing an additional 301 shares during the period. 76.24% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $51.30 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.52 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $52.17 and its two-hundred day moving average price is $52.36. Molson Coors Beverage has a 52 week low of $46.69 and a 52 week high of $60.12. The stock has a market cap of $11.11 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 3.29 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.36 by ($0.04). Molson Coors Beverage had a return on equity of 5.78% and a net margin of 3.85%. The business had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $2.86 billion. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 3.87 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Friday, December 2nd were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, December 1st. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TAP. Cowen raised shares of Molson Coors Beverage from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $60.00 in a report on Friday, January 6th. Wells Fargo & Company downgraded shares of Molson Coors Beverage from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $52.00 to $45.00 in a report on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Molson Coors Beverage from a “hold” rating to a “sell” rating and set a $50.00 price target for the company. in a report on Tuesday, December 6th. Cowen raised shares of Molson Coors Beverage from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $60.00 in a report on Friday, January 6th. Finally, Wedbush began coverage on shares of Molson Coors Beverage in a report on Monday, October 10th. They set a “neutral” rating and a $50.00 price target for the company. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.00.

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, the Middle East, Africa, and the 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.

See Also

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