Benjamin F. Edwards & Company Inc. Grows Holdings in Molson Coors Beverage (NYSE:TAP)

Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 91.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,300 shares of the company’s stock after purchasing an additional 4,438 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Molson Coors Beverage were worth $473,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors grew its holdings in shares of Molson Coors Beverage by 10.7% during the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after buying an additional 939,142 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Molson Coors Beverage by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after purchasing an additional 434,685 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Molson Coors Beverage by 12.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,396,489 shares of the company’s stock worth $85,479,000 after purchasing an additional 153,968 shares during the last quarter. Schroder Investment Management Group lifted its holdings in shares of Molson Coors Beverage by 0.9% during the fourth quarter. Schroder Investment Management Group now owns 1,254,963 shares of the company’s stock worth $76,816,000 after purchasing an additional 11,514 shares during the period. Finally, Ilex Capital Partners UK LLP acquired a new stake in shares of Molson Coors Beverage during the first quarter worth $53,096,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $54.61 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The stock has a fifty day moving average of $53.89 and a two-hundred day moving average of $56.73. The company has a market capitalization of $11.57 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 2.33 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its 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. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.78 EPS. On average, analysts anticipate that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a $0.44 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.22%. Molson Coors Beverage’s payout ratio is currently 35.20%.

Analysts Set New Price Targets

A number of equities analysts have commented on TAP shares. Jefferies Financial Group cut their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Citigroup reduced their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. TD Cowen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and lowered their price target for the stock from $68.00 to $58.00 in a research note on Wednesday, August 7th. Wells Fargo & Company raised their price objective on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Finally, Bank of America lowered their target price on shares of 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. Three equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.53.

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.