Molson Coors Beverage (NYSE:TAP) Stake Lessened by Stifel Financial Corp

Stifel Financial Corp decreased its position in shares of Molson Coors Beverage (NYSE:TAP) by 20.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,046 shares of the company’s stock after selling 7,333 shares during the period. Stifel Financial Corp’s holdings in Molson Coors Beverage were worth $1,614,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after acquiring an additional 2,155,842 shares during the period. Dimensional Fund Advisors LP grew its stake 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 purchasing an additional 434,685 shares during the last quarter. River Road Asset Management LLC raised its holdings in shares of Molson Coors Beverage by 1.8% in the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock worth $96,475,000 after purchasing an additional 29,315 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Molson Coors Beverage during the third quarter valued at approximately $48,202,000. Finally, Millennium Management LLC boosted its holdings in Molson Coors Beverage by 541.4% during the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock worth $38,893,000 after buying an additional 645,847 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 1.2 %

Shares of TAP stock opened at $59.34 on Friday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.22 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85. The stock has a 50 day moving average of $58.89 and a 200-day moving average of $55.14.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 EPS. On average, equities analysts predict that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They issued a “buy” rating and a $72.00 target price on the stock. BNP Paribas began coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.00.

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.