MQS Management LLC Acquires Shares of 14,770 Molson Coors Beverage (NYSE:TAP)

MQS Management LLC acquired a new position in shares of Molson Coors Beverage (NYSE:TAP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,770 shares of the company’s stock, valued at approximately $751,000.

A number of other hedge funds have also recently bought and sold shares of TAP. Norges Bank acquired a new position in shares of Molson Coors Beverage during the fourth quarter valued at $127,337,000. Capital International Investors lifted its holdings in Molson Coors Beverage by 10.7% in the first 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 during the period. Ilex Capital Partners UK LLP bought a new position in Molson Coors Beverage in the first quarter valued at approximately $53,096,000. Dimensional Fund Advisors LP grew its holdings in Molson Coors Beverage by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after acquiring an additional 434,685 shares during the period. Finally, Royal London Asset Management Ltd. raised its position in shares of Molson Coors Beverage by 471.2% during the 2nd quarter. Royal London Asset Management Ltd. now owns 452,692 shares of the company’s stock valued at $23,010,000 after acquiring an additional 373,440 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TAP has been the topic of a number of recent analyst reports. Piper Sandler boosted their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Bank of America lowered their target price on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. UBS Group raised their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Barclays boosted 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. Finally, JPMorgan Chase & Co. raised their price target on Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Price Performance

Shares of TAP opened at $55.35 on Thursday. 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 has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a 50 day moving average of $53.62 and a 200-day moving average of $57.01. The stock has a market capitalization of $11.73 billion, a P/E ratio of 11.07, a P/E/G ratio of 2.33 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted 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. 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 during the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the company earned $1.78 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

About Molson Coors Beverage

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.