Molson Coors Beverage (NYSE:TAP) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in shares of Molson Coors Beverage (NYSE:TAP) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,651,387 shares of the company’s stock after selling 11,145 shares during the period. Charles Schwab Investment Management Inc. owned 0.80% of Molson Coors Beverage worth $94,988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. iA Global Asset Management Inc. raised its holdings in shares of Molson Coors Beverage by 117.5% in the first quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after acquiring an additional 17,062 shares during the last quarter. Wakefield Asset Management LLLP increased its position in Molson Coors Beverage by 124.5% during the 2nd 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 acquired a new position in Molson Coors Beverage in the 2nd quarter valued at about $3,842,000. Wedge Capital Management L L P NC lifted its holdings in 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 valued at $35,023,000 after purchasing an additional 27,203 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Molson Coors Beverage by 22.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock worth $20,673,000 after purchasing an additional 56,584 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. BNP Paribas began coverage on Molson Coors Beverage in a research report on Monday. They set a “neutral” rating and a $64.00 target price on the stock. Finally, Piper Sandler lifted their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $60.57.

Molson Coors Beverage Stock Up 1.2 %

Shares of Molson Coors Beverage stock opened at $61.41 on Wednesday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a market cap of $12.65 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average price of $56.94 and a 200 day moving average price of $54.44.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 earnings per share. Equities research analysts forecast that Molson Coors Beverage will post 5.78 earnings per share 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. Stockholders of record on Friday, December 6th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.87%. Molson Coors Beverage’s payout ratio is currently 39.64%.

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.