Molson Coors Beverage (NYSE:TAP) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC grew its stake in shares of Molson Coors Beverage (NYSE:TAP) by 200.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,000 shares of the company’s stock after acquiring an additional 61,350 shares during the period. Cerity Partners LLC’s holdings in Molson Coors Beverage were worth $5,292,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TAP. Wakefield Asset Management LLLP grew its stake in Molson Coors Beverage by 124.5% in the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock worth $2,709,000 after purchasing an additional 29,552 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Molson Coors Beverage during the 2nd quarter worth approximately $3,842,000. Wedge Capital Management L L P NC grew its position in shares of Molson Coors Beverage by 4.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 689,027 shares of the company’s stock worth $35,023,000 after acquiring an additional 27,203 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Molson Coors Beverage by 22.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock valued at $20,673,000 after acquiring an additional 56,584 shares during the last quarter. Finally, M&G Plc raised its position in shares of Molson Coors Beverage by 7.4% during the 2nd quarter. M&G Plc now owns 273,378 shares of the company’s stock valued at $13,942,000 after acquiring an additional 18,889 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.3 %

Molson Coors Beverage stock opened at $61.25 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 2.35 and a beta of 0.82. The company’s 50-day moving average price is $57.16 and its two-hundred day moving average price is $54.50. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.92 earnings per share. On average, analysts expect that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 2.87%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Analysts Set New Price Targets

Several analysts have weighed in on TAP shares. UBS Group boosted their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $74.00 in a report on Friday, November 8th. Finally, BNP Paribas assumed coverage on Molson Coors Beverage in a report on Monday. They issued a “neutral” rating and a $64.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $60.57.

Molson Coors Beverage 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.