Massachusetts Financial Services Co. MA Purchases Shares of 37,407 Molson Coors Beverage (NYSE:TAP)

Massachusetts Financial Services Co. MA acquired a new position in shares of Molson Coors Beverage (NYSE:TAP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 37,407 shares of the company’s stock, valued at approximately $2,152,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TAP. Pacer Advisors Inc. increased its stake in shares of Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after purchasing an additional 2,155,842 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in Molson Coors Beverage during the 3rd quarter worth $48,202,000. Millennium Management LLC grew its position in shares of Molson Coors Beverage by 541.4% during the 2nd quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock worth $38,893,000 after purchasing an additional 645,847 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Molson Coors Beverage by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after purchasing an additional 434,685 shares during the period. Finally, Randolph Co Inc acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at approximately $21,754,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. UBS Group raised their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen dropped their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. BNP Paribas began coverage on shares of Molson Coors Beverage in a research note on Monday. They set a “neutral” rating and a $64.00 price objective on the stock. Barclays boosted their target price 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.57.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $61.23 on Thursday. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.35 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 business’s 50-day moving average price is $57.05 and its 200-day moving average price is $54.46. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted 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. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned $1.92 EPS. The firm’s revenue was down 7.8% compared to the same quarter last year. Equities research analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.87%. Molson Coors Beverage’s payout ratio is 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.