Daiwa Securities Group Inc. Has $1.10 Million Stake in Molson Coors Beverage (NYSE:TAP)

Daiwa Securities Group Inc. decreased its position in Molson Coors Beverage (NYSE:TAP) by 16.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,579 shares of the company’s stock after selling 4,383 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Molson Coors Beverage were worth $1,097,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TAP. Family Firm Inc. acquired a new position in shares of Molson Coors Beverage in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. grew its position in shares of Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 501 shares during the last quarter. GPS Wealth Strategies Group LLC grew its position in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $36,000. Finally, Quarry LP grew its position in Molson Coors Beverage by 69.3% during the fourth quarter. Quarry LP now owns 657 shares of the company’s stock worth $40,000 after buying an additional 269 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of analyst reports. TD Cowen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating and reduced their price target for the stock from $68.00 to $58.00 in a research report on Wednesday, August 7th. Bank of America reduced their price target on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Barclays increased their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Piper Sandler increased their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, UBS Group increased their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.53.

Molson Coors Beverage Stock Up 1.2 %

Shares of TAP opened at $54.94 on Monday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The stock has a fifty day moving average of $53.30 and a 200-day moving average of $57.12.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. Molson Coors Beverage’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.75 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.20%. Molson Coors Beverage’s payout ratio is 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.