Thrivent Financial for Lutherans Trims Holdings in Molson Coors Beverage (NYSE:TAP)

Thrivent Financial for Lutherans decreased its position in shares of Molson Coors Beverage (NYSE:TAP) by 27.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,247 shares of the company’s stock after selling 7,430 shares during the period. Thrivent Financial for Lutherans’ holdings in Molson Coors Beverage were worth $1,108,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in shares of Molson Coors Beverage by 144.6% during the 1st quarter. Janus Henderson Group PLC now owns 73,909 shares of the company’s stock valued at $4,969,000 after buying an additional 43,696 shares in the last quarter. Cetera Investment Advisers grew its position in shares of Molson Coors Beverage by 613.8% during the first quarter. Cetera Investment Advisers now owns 44,954 shares of the company’s stock worth $3,023,000 after purchasing an additional 38,656 shares in the last quarter. Cetera Advisors LLC bought a new stake in Molson Coors Beverage during the 1st quarter valued at approximately $1,670,000. DekaBank Deutsche Girozentrale raised its stake in Molson Coors Beverage by 3.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 106,066 shares of the company’s stock valued at $7,087,000 after purchasing an additional 4,029 shares during the period. Finally, DNB Asset Management AS lifted its holdings in Molson Coors Beverage by 6.2% in the 2nd quarter. DNB Asset Management AS now owns 37,499 shares of the company’s stock worth $1,906,000 after purchasing an additional 2,201 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

TAP has been the topic of several recent analyst reports. UBS Group lifted their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. TD Cowen dropped their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $60.00.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $62.06 on Monday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $57.43 and a 200-day moving average price of $54.55. The firm has a market capitalization of $12.78 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 earnings per share. As a group, equities research analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

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.