Deutsche Bank AG lifted its holdings in Molson Coors Beverage (NYSE:TAP – Free Report) by 57.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,233,622 shares of the company’s stock after purchasing an additional 449,971 shares during the period. Deutsche Bank AG owned about 0.57% of Molson Coors Beverage worth $78,446,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Public Sector Pension Investment Board boosted its holdings in shares of Molson Coors Beverage by 10.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,883 shares of the company’s stock worth $1,264,000 after purchasing an additional 1,953 shares during the last quarter. Graham Capital Management L.P. acquired a new position in Molson Coors Beverage during the third quarter worth $364,000. Comerica Bank lifted its stake in Molson Coors Beverage by 12.1% during the third quarter. Comerica Bank now owns 96,700 shares of the company’s stock worth $6,149,000 after purchasing an additional 10,464 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in Molson Coors Beverage by 3.4% in the third quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock valued at $785,000 after buying an additional 408 shares during the last quarter. Finally, Creative Planning increased its holdings in Molson Coors Beverage by 10.1% in the third quarter. Creative Planning now owns 13,732 shares of the company’s stock valued at $873,000 after buying an additional 1,256 shares during the last quarter. Hedge funds and other institutional investors own 73.95% of the company’s stock.
Molson Coors Beverage Price Performance
TAP stock opened at $65.93 on Friday. Molson Coors Beverage has a 1 year low of $49.32 and a 1 year high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The firm has a market cap of $14.22 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 2.30 and a beta of 0.83. The stock has a 50-day simple moving average of $62.70 and a 200-day simple moving average of $61.62.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. Molson Coors Beverage’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS. On average, equities analysts predict that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.Molson Coors Beverage Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a $0.44 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 40.37%.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on TAP shares. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Monday. Barclays increased their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Finally, HSBC initiated coverage on shares of Molson Coors Beverage in a research note on Thursday, November 30th. They set a “hold” rating and a $68.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.57.
View Our Latest Analysis on TAP
Insider Activity at Molson Coors Beverage
In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.41% of the stock is owned by insiders.
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.
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