Molson Coors Beverage Company $TAP Stock Position Raised by Cibc World Market Inc.

Cibc World Market Inc. boosted its holdings in Molson Coors Beverage Company (NYSE:TAP) by 53.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,011 shares of the company’s stock after acquiring an additional 12,861 shares during the period. Cibc World Market Inc.’s holdings in Molson Coors Beverage were worth $1,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TAP. Root Financial Partners LLC bought a new position in Molson Coors Beverage during the 3rd quarter worth $25,000. Clearstead Trust LLC raised its holdings in shares of Molson Coors Beverage by 952.8% during the second quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after buying an additional 505 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after buying an additional 221 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Molson Coors Beverage by 175.7% during the 3rd quarter. Versant Capital Management Inc now owns 1,202 shares of the company’s stock worth $54,000 after acquiring an additional 766 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Down 2.3%

Shares of NYSE TAP opened at $53.12 on Tuesday. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37. Molson Coors Beverage Company has a one year low of $42.94 and a one year high of $64.66. The business has a 50-day moving average price of $48.63 and a two-hundred day moving average price of $47.83. The firm has a market capitalization of $10.50 billion, a PE ratio of -4.97 and a beta of 0.48.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, December 5th. Molson Coors Beverage’s payout ratio is currently -17.60%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TAP. Sanford C. Bernstein cut their price objective on shares of Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Monday, December 29th. Jefferies Financial Group dropped their target price on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. started coverage on Molson Coors Beverage in a research report on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 target price for the company. Finally, BNP Paribas Exane cut Molson Coors Beverage from a “hold” rating to a “strong sell” rating and set a $40.00 price target on the stock. in a research report on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $53.18.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.