Molson Coors Beverage (NYSE:TAP) Holdings Raised by DnB Asset Management AS

DnB Asset Management AS grew its holdings in shares of Molson Coors Beverage (NYSE:TAPGet Rating) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 63,996 shares of the company’s stock after purchasing an additional 1,371 shares during the period. DnB Asset Management AS’s holdings in Molson Coors Beverage were worth $3,488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TAP. Vanguard Group Inc. raised its holdings 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 purchasing an additional 1,235,013 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Molson Coors Beverage during the 4th quarter valued at $20,079,000. Polaris Wealth Advisory Group LLC bought a new position in shares of Molson Coors Beverage during the 1st quarter valued at $21,130,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of Molson Coors Beverage during the 1st quarter valued at $17,215,000. 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 valued at $171,722,000 after purchasing an additional 312,326 shares in the last quarter. Institutional investors own 79.22% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $49.92 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.82 and a quick ratio of 0.57. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 3.03 and a beta of 0.85. The company’s fifty day moving average is $54.95 and its two-hundred day moving average is $54.08. Molson Coors Beverage has a 52-week low of $42.46 and a 52-week high of $60.12.

Molson Coors Beverage (NYSE:TAPGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. Molson Coors Beverage had a net margin of 5.73% and a return on equity of 6.46%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the business posted $1.58 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts forecast that Molson Coors Beverage will post 3.91 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 1st. This represents a $1.52 annualized dividend and a dividend yield of 3.04%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 45.10%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Molson Coors Beverage from $54.00 to $52.00 in a report on Wednesday, August 3rd. Credit Suisse Group dropped their target price on shares of Molson Coors Beverage from $50.00 to $49.00 and set an “underperform” rating on the stock in a report on Wednesday, August 3rd. UBS Group lifted their target price on shares of Molson Coors Beverage from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Redburn Partners upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating in a report on Wednesday, July 13th. Finally, TheStreet downgraded shares of Molson Coors Beverage from a “b” rating to a “c+” rating in a report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.50.

Molson Coors Beverage Profile

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Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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