Mercer Global Advisors Inc. ADV Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Mercer Global Advisors Inc. ADV raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 22.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,016 shares of the company’s stock after acquiring an additional 23,036 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 0.06% of Molson Coors Beverage worth $6,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Czech National Bank raised its stake in shares of Molson Coors Beverage by 0.5% during the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after acquiring an additional 149 shares in the last quarter. Empirical Finance LLC raised its position in Molson Coors Beverage by 3.5% in the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after purchasing an additional 226 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in Molson Coors Beverage by 1.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock worth $1,000,000 after purchasing an additional 231 shares during the period. Affinity Investment Advisors LLC lifted its stake in Molson Coors Beverage by 2.9% in the first quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock worth $579,000 after purchasing an additional 246 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in Molson Coors Beverage by 0.8% during the first quarter. Private Advisor Group LLC now owns 31,508 shares of the company’s stock valued at $2,119,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $54.49 on Friday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a 50-day simple moving average of $53.77 and a two-hundred day simple moving average of $56.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The firm has a market capitalization of $11.54 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81.

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

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.23%. Molson Coors Beverage’s payout ratio is 35.20%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TAP. Wells Fargo & Company boosted their target price on Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Piper Sandler increased their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. UBS Group lifted their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Bank of America dropped their price target on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Barclays boosted their price objective on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $60.53.

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.