American Century Companies Inc. reduced its holdings in shares of Molson Coors Beverage (NYSE:TAP – Free Report) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 189,204 shares of the company’s stock after selling 7,769 shares during the period. American Century Companies Inc.’s holdings in Molson Coors Beverage were worth $12,031,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in TAP. Marshall Wace LLP boosted its stake in shares of Molson Coors Beverage by 2,089.6% during the 2nd quarter. Marshall Wace LLP now owns 2,150,603 shares of the company’s stock valued at $141,596,000 after buying an additional 2,052,384 shares during the last quarter. Norges Bank purchased a new position in shares of Molson Coors Beverage during the 4th quarter valued at approximately $83,092,000. AQR Capital Management LLC boosted its stake in shares of Molson Coors Beverage by 76.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after buying an additional 1,500,269 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Molson Coors Beverage by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock valued at $1,138,589,000 after buying an additional 1,235,013 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Molson Coors Beverage by 40.2% during the 3rd quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock valued at $219,194,000 after buying an additional 988,864 shares during the last quarter. 73.95% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Molson Coors Beverage
In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.30% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. HSBC assumed coverage on Molson Coors Beverage in a research report on Thursday, November 30th. They set a “hold” rating and a $68.00 price target on the stock. Barclays upped their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, Piper Sandler assumed coverage on Molson Coors Beverage in a research report on Friday. They set a “neutral” rating and a $69.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average target price of $67.67.Get Our Latest Analysis on TAP
Molson Coors Beverage Price Performance
Shares of TAP opened at $67.16 on Friday. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a one year low of $49.32 and a one year high of $70.90. The stock’s fifty day moving average is $63.23 and its 200-day moving average is $61.80.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.30 earnings per share. Equities analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.
Molson Coors Beverage Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 2.62%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 40.37%.
Molson Coors Beverage 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.
Featured Articles
Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage (NYSE:TAP – Free Report).
Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.
Bagikan Berita Ini
0 Response to "American Century Companies Inc. Trims Holdings in Molson Coors Beverage (NYSE:TAP) - Defense World"
Post a Comment