Jones Financial Companies Lllp Acquires 1,625 Shares of Molson Coors Beverage (NYSE:TAP)

Jones Financial Companies Lllp increased its holdings in Molson Coors Beverage (NYSE:TAPFree Report) by 244.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,291 shares of the company’s stock after buying an additional 1,625 shares during the period. Jones Financial Companies Lllp’s holdings in Molson Coors Beverage were worth $140,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its holdings in Molson Coors Beverage by 76.0% in the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after purchasing an additional 1,500,269 shares during the period. Morgan Stanley raised its position in shares of Molson Coors Beverage by 40.2% during the 3rd quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock valued at $219,194,000 after buying an additional 988,864 shares in the last quarter. Invesco Ltd. raised its position in shares of Molson Coors Beverage by 13.0% during the 3rd quarter. Invesco Ltd. now owns 3,087,469 shares of the company’s stock valued at $196,332,000 after buying an additional 355,694 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Molson Coors Beverage by 9,466.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after buying an additional 2,121,211 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at $127,337,000. 78.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TAP shares. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Citigroup decreased their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a research report on Wednesday, May 1st. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. UBS Group decreased their target price on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Barclays decreased their target price on shares of Molson Coors Beverage from $62.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $65.07.

Read Our Latest Research Report on Molson Coors Beverage

Molson Coors Beverage Stock Down 0.9 %

Shares of TAP stock opened at $52.49 on Thursday. Molson Coors Beverage has a 12 month low of $52.28 and a 12 month high of $70.90. The stock has a market cap of $11.12 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.93 and a beta of 0.81. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $60.64 and a two-hundred day simple moving average of $61.93.

Molson Coors Beverage (NYSE:TAPGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $0.95 EPS 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 during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. On average, research analysts expect that Molson Coors Beverage will post 5.68 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.35%. Molson Coors Beverage’s payout ratio is currently 35.20%.

Molson Coors Beverage Company 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, spirits and energy, and ready to drink beverages.

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

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