Stifel Financial Corp Acquires 8552 Shares of Molson Coors Beverage (NYSE:TAP) - Defense World

Stifel Financial Corp boosted its holdings in Molson Coors Beverage (NYSE:TAP – Free Report) by 28.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,601 shares of the company’s stock after purchasing an additional 8,552 shares during the quarter. Stifel Financial Corp’s holdings in Molson Coors Beverage were worth $2,455,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Molson Coors Beverage by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock worth $1,138,589,000 after purchasing an additional 1,235,013 shares during the period. State Street Corp raised its holdings in shares of Molson Coors Beverage by 1.7% during the 1st quarter. State Street Corp now owns 8,727,747 shares of the company’s stock worth $465,887,000 after acquiring an additional 143,757 shares in the last quarter. Capital International Investors raised its holdings in shares of Molson Coors Beverage by 1.0% during the 1st quarter. Capital International Investors now owns 4,721,084 shares of the company’s stock worth $252,011,000 after acquiring an additional 49,044 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Molson Coors Beverage by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,940,342 shares of the company’s stock worth $258,741,000 after acquiring an additional 80,858 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Molson Coors Beverage by 10.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,216,836 shares of the company’s stock worth $171,722,000 after acquiring an additional 312,326 shares in the last quarter. 73.95% of the stock is currently owned by institutional investors.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the 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 owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.30% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP stock opened at $64.56 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $62.35 and its two-hundred day simple moving average is $61.53. Molson Coors Beverage has a twelve month low of $49.32 and a twelve month high of $70.90. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 2.19 and a beta of 0.83.

Molson Coors Beverage (NYSE:TAP – Get Free Report) last released its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $1.30 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Analysts predict that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a dividend of $0.44 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.73%. Molson Coors Beverage’s dividend payout ratio is presently 40.37%.

Wall Street Analysts Forecast Growth

TAP has been the topic of several recent research reports. Barclays upped their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. HSBC initiated coverage on Molson Coors Beverage in a report on Thursday, November 30th. They set a “hold” rating and a $68.00 price objective on the stock. Jefferies Financial Group started coverage on Molson Coors Beverage in a report on Monday, November 13th. They set a “hold” rating and a $62.00 price objective on the stock. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Finally, StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $67.57.

Read Our Latest Research Report on Molson Coors Beverage

Molson Coors Beverage Profile

(Free Report)

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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.