12,900 Shares in Molson Coors Beverage (NYSE:TAP) Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 12,900 shares of the company’s stock, valued at approximately $656,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TAP. Pacer Advisors Inc. boosted its position in shares of Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after purchasing an additional 2,155,842 shares in the last quarter. Capital International Investors boosted its holdings in shares of Molson Coors Beverage by 10.7% during the 1st quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock valued at $651,849,000 after buying an additional 939,142 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of Molson Coors Beverage during the 1st quarter valued at $53,096,000. Dimensional Fund Advisors LP grew its position in shares of Molson Coors Beverage by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after buying an additional 434,685 shares during the period. Finally, Royal London Asset Management Ltd. increased its stake in shares of Molson Coors Beverage by 471.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 452,692 shares of the company’s stock worth $23,010,000 after acquiring an additional 373,440 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.3 %

Shares of Molson Coors Beverage stock opened at $57.35 on Wednesday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $54.13 and its 200 day moving average is $56.45. The company has a market cap of $12.15 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 2.38 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. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the firm earned $1.78 EPS. The company’s revenue was down .4% compared to the same quarter last year. Research analysts anticipate that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s payout ratio is currently 35.20%.

Analyst Ratings Changes

TAP has been the topic of several research reports. Jefferies Financial Group dropped their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. Bank of America cut their price target on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Wells Fargo & Company lifted their price objective 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. JPMorgan Chase & Co. increased their target price on Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler raised their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Molson Coors Beverage has an average 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.