DoubleLine ETF Adviser LP Sells 514 Shares of Molson Coors Beverage (NYSE:TAP)

DoubleLine ETF Adviser LP cut its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,871 shares of the company’s stock after selling 514 shares during the period. DoubleLine ETF Adviser LP’s holdings in Molson Coors Beverage were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Corient Private Wealth LLC boosted its stake in 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 acquiring an additional 30,323 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Molson Coors Beverage by 5.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 62,655 shares of the company’s stock worth $3,835,000 after purchasing an additional 3,271 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Molson Coors Beverage by 5.4% during the fourth quarter. Hsbc Holdings PLC now owns 348,543 shares of the company’s stock worth $21,313,000 after purchasing an additional 17,891 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in Molson Coors Beverage in the fourth quarter valued at about $41,000. Finally, TD Asset Management Inc lifted its stake in Molson Coors Beverage by 7.0% in the fourth quarter. TD Asset Management Inc now owns 49,701 shares of the company’s stock valued at $3,042,000 after buying an additional 3,271 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup decreased their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. UBS Group boosted their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company increased their target price on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. TD Cowen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and decreased their price target for the company from $68.00 to $58.00 in a report on Wednesday, August 7th. Finally, Piper Sandler upped their price objective on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Trading Up 1.3 %

NYSE:TAP opened at $55.31 on Friday. The company has a market cap of $11.72 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The business has a 50 day moving average price of $53.94 and a two-hundred day moving average price of $56.71. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping 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 business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. As a group, analysts expect that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Friday, August 30th. 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.