16,950 Shares in Molson Coors Beverage (NYSE:TAP) Purchased by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp purchased a new position in Molson Coors Beverage (NYSE:TAP) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 16,950 shares of the company’s stock, valued at approximately $1,140,000.

A number of other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in Molson Coors Beverage by 76.0% in the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock worth $218,168,000 after purchasing an additional 1,500,269 shares in the last quarter. Morgan Stanley lifted its stake in Molson Coors Beverage by 40.2% during the 3rd quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock valued at $219,194,000 after acquiring an additional 988,864 shares during the period. Pacer Advisors Inc. lifted its stake in Molson Coors Beverage by 9,466.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after acquiring an additional 2,121,211 shares during the period. Norges Bank bought a new position in Molson Coors Beverage during the 4th quarter valued at about $127,337,000. Finally, Northern Trust Corp lifted its stake in Molson Coors Beverage by 12.1% during the 3rd quarter. Northern Trust Corp now owns 2,017,226 shares of the company’s stock valued at $128,275,000 after acquiring an additional 218,002 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TAP shares. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Citigroup lowered their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a research note on Wednesday, May 1st. Bank of America lowered their target price on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price target for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $65.07.

Molson Coors Beverage Trading Up 0.6 %

Molson Coors Beverage stock opened at $50.95 on Friday. The firm has a 50 day moving average of $56.39 and a 200 day moving average of $61.06. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 1.82 and a beta of 0.81. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $70.90. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm posted $0.54 EPS. The company’s revenue was up 10.7% on a year-over-year basis. As a group, research analysts predict that Molson Coors Beverage will post 5.68 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a yield of 3.45%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

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.