Molson Coors Beverage (NYSE:TAP) Holdings Lifted by Macquarie Group Ltd.

Macquarie Group Ltd. boosted its position in shares of Molson Coors Beverage (NYSE:TAP) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,579 shares of the company’s stock after buying an additional 2,687 shares during the quarter. Macquarie Group Ltd.’s holdings in Molson Coors Beverage were worth $5,094,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Molson Coors Beverage by 25.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company’s stock worth $1,242,000 after acquiring an additional 4,792 shares in the last quarter. American Century Companies Inc. grew its holdings in Molson Coors Beverage by 17.1% in the 1st quarter. American Century Companies Inc. now owns 18,462 shares of the company’s stock valued at $985,000 after buying an additional 2,700 shares during the last quarter. US Bancorp DE grew its holdings in Molson Coors Beverage by 45.7% in the 1st quarter. US Bancorp DE now owns 3,834 shares of the company’s stock valued at $205,000 after buying an additional 1,203 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Molson Coors Beverage by 4.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company’s stock valued at $889,000 after buying an additional 720 shares during the last quarter. Finally, Natixis Advisors L.P. grew its holdings in Molson Coors Beverage by 26.3% in the 1st quarter. Natixis Advisors L.P. now owns 14,411 shares of the company’s stock valued at $769,000 after buying an additional 3,001 shares during the last quarter. 73.95% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $63.59 on Monday. Molson Coors Beverage has a one year low of $46.69 and a one year high of $70.90. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 397.44, a price-to-earnings-growth ratio of 1.71 and a beta of 0.88. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.87 and a quick ratio of 0.64. The stock’s 50-day moving average is $65.22 and its 200-day moving average is $61.58.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 1st. The company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.63 by $0.15. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.31 billion. Molson Coors Beverage had a return on equity of 8.17% and a net margin of 0.31%. Equities analysts predict that Molson Coors Beverage will post 5.07 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Thursday, August 31st. Molson Coors Beverage’s dividend payout ratio is currently 1,025.00%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Molson Coors Beverage from $61.00 to $69.00 and gave the stock a “neutral” rating in a report on Thursday, July 20th. 51job reissued a “maintains” rating on shares of Molson Coors Beverage in a report on Monday, June 26th. Bank of America raised Molson Coors Beverage from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $54.00 to $68.00 in a report on Tuesday, June 6th. Jefferies Financial Group raised their target price on Molson Coors Beverage from $74.00 to $75.00 in a research report on Tuesday, June 6th. Finally, Barclays cut their target price on Molson Coors Beverage from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $62.40.

About Molson Coors Beverage

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.