Healthcare of Ontario Pension Plan Trust Fund Sells 2,850 Shares of Molson Coors Beverage (NYSE:TAP)

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Molson Coors Beverage (NYSE:TAP) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 370,000 shares of the company’s stock after selling 2,850 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.17% of Molson Coors Beverage worth $17,161,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Berman Capital Advisors LLC grew its holdings in Molson Coors Beverage by 18.4% during the 2nd quarter. Berman Capital Advisors LLC now owns 1,454 shares of the company’s stock valued at $78,000 after purchasing an additional 226 shares during the last quarter. Private Advisor Group LLC grew its holdings in Molson Coors Beverage by 3.0% during the 2nd quarter. Private Advisor Group LLC now owns 8,073 shares of the company’s stock valued at $433,000 after purchasing an additional 232 shares during the last quarter. Mission Wealth Management LP grew its holdings in Molson Coors Beverage by 2.3% during the 3rd quarter. Mission Wealth Management LP now owns 10,201 shares of the company’s stock valued at $473,000 after purchasing an additional 233 shares during the last quarter. JJJ Advisors Inc. grew its holdings in Molson Coors Beverage by 69.3% during the 3rd quarter. JJJ Advisors Inc. now owns 611 shares of the company’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. Finally, TCI Wealth Advisors Inc. grew its holdings in Molson Coors Beverage by 69.5% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 651 shares of the company’s stock valued at $30,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 80.50% of the company’s stock.

Shares of TAP opened at $51.69 on Friday. The company has a 50 day moving average price of $46.74 and a 200-day moving average price of $47.64. Molson Coors Beverage has a fifty-two week low of $42.46 and a fifty-two week high of $61.48. The company has a quick ratio of 0.56, a current ratio of 0.77 and a debt-to-equity ratio of 0.49.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Wednesday, October 27th. The company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.22. Molson Coors Beverage had a negative net margin of 3.69% and a positive return on equity of 6.22%. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 4.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Friday, December 3rd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 2.63%. Molson Coors Beverage’s payout ratio is -66.02%.

TAP has been the topic of several analyst reports. Morgan Stanley cut their price target on shares of Molson Coors Beverage from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Monday, November 1st. Credit Suisse Group dropped their target price on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underperform” rating on the stock in a research note on Friday, October 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Molson Coors Beverage from $50.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, October 18th. Wells Fargo & Company dropped their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 28th. Finally, Barclays dropped their target price on shares of Molson Coors Beverage from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, November 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.91.

About Molson Coors Beverage

Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: North America and Europe. The North America segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The Europe segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the U.K., various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.

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

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