Van ECK Associates Corp boosted its stake in shares of Molson Coors Beverage (NYSE:TAP – Free Report) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,064 shares of the company’s stock after acquiring an additional 323 shares during the quarter. Van ECK Associates Corp’s holdings in Molson Coors Beverage were worth $555,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kestra Private Wealth Services LLC lifted its holdings in Molson Coors Beverage by 19.5% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock valued at $726,000 after purchasing an additional 1,859 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Molson Coors Beverage by 6,418.1% in the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock worth $9,268,000 after acquiring an additional 149,093 shares in the last quarter. SkyView Investment Advisors LLC grew its position in Molson Coors Beverage by 3.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock worth $785,000 after acquiring an additional 408 shares during the last quarter. Metis Global Partners LLC increased its holdings in Molson Coors Beverage by 24.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock valued at $712,000 after purchasing an additional 2,183 shares in the last quarter. Finally, Savoir Faire Capital Management L.P. bought a new position in Molson Coors Beverage in the 3rd quarter valued at $3,245,000. 78.46% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Piper Sandler began coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They set a “neutral” rating and a $69.00 price target on the stock. Finally, Barclays dropped their price objective on shares of Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $65.53.
Check Out Our Latest Stock Analysis on Molson Coors BeverageMolson Coors Beverage Trading Up 0.4 %
NYSE:TAP opened at $59.05 on Friday. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 2.12 and a beta of 0.86. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The business’s 50-day moving average price is $64.34 and its two-hundred day moving average price is $62.34. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the company posted $0.54 EPS. Molson Coors Beverage’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts expect that Molson Coors Beverage will post 5.68 earnings per share for the current year.
Molson Coors Beverage Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.44 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a dividend yield of 2.98%. Molson Coors Beverage’s payout ratio is 35.20%.
Insider Activity at Molson Coors Beverage
In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage 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 transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.71% of the stock is owned by corporate insiders.
Molson Coors Beverage Company 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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