The Manufacturers Life Insurance Company Grows Position in Molson Coors Beverage (NYSE:TAP)

The Manufacturers Life Insurance Company raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 7.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 146,029 shares of the company’s stock after purchasing an additional 10,014 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Molson Coors Beverage worth $7,423,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Family Firm Inc. bought a new position in Molson Coors Beverage in the second quarter worth approximately $26,000. Raleigh Capital Management Inc. lifted its stake in shares of Molson Coors Beverage by 2,087.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 501 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in Molson Coors Beverage during the second quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in Molson Coors Beverage in the fourth quarter valued at about $36,000. Finally, Crewe Advisors LLC bought a new position in Molson Coors Beverage in the first quarter worth about $43,000. Institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America lowered their price target on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. TD Cowen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and cut their price target for the stock from $68.00 to $58.00 in a report on Wednesday, August 7th. Jefferies Financial Group decreased their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. UBS Group boosted their target price 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. Finally, Citigroup decreased their price target on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $59.36.

Molson Coors Beverage Stock Performance

TAP opened at $56.07 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The firm has a 50 day moving average of $54.35 and a two-hundred day moving average of $56.21. The firm has a market capitalization of $11.88 billion, a PE ratio of 11.21, a P/E/G ratio of 2.38 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (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 firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the company posted $1.78 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. On average, analysts anticipate that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is 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.