Tredje AP fonden Has $1.51 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Tredje AP fonden lowered its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,775 shares of the company’s stock after selling 465 shares during the quarter. Tredje AP fonden’s holdings in Molson Coors Beverage were worth $1,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. lifted its position in shares of Molson Coors Beverage by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 213,092 shares of the company’s stock worth $13,043,000 after buying an additional 884 shares during the last quarter. Norges Bank bought a new stake in Molson Coors Beverage during the fourth quarter worth approximately $127,337,000. D.A. Davidson & CO. grew its holdings in Molson Coors Beverage by 38.0% during the fourth quarter. D.A. Davidson & CO. now owns 18,782 shares of the company’s stock valued at $1,150,000 after purchasing an additional 5,173 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of Molson Coors Beverage by 254.5% in the fourth quarter. Corient Private Wealth LLC now owns 42,240 shares of the company’s stock valued at $2,586,000 after purchasing an additional 30,323 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Molson Coors Beverage by 24.7% in the fourth quarter. Franklin Resources Inc. now owns 236,511 shares of the company’s stock worth $14,477,000 after buying an additional 46,877 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Citigroup dropped their price objective on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Barclays increased their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Jefferies Financial Group dropped their price target on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Finally, Bank of America reduced their price objective on 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. 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Trading Down 1.5 %

TAP stock opened at $54.49 on Friday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $53.77 and its 200-day moving average is $56.95. The firm has a market cap of $11.54 billion, a P/E ratio of 10.90, a P/E/G ratio of 2.33 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results 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 firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 earnings per share. Equities analysts anticipate that Molson Coors Beverage will post 5.75 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

Molson Coors Beverage 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.