Horizon Investments LLC raised its holdings in shares of Molson Coors Beverage (NYSE:TAP – Get Rating) by 24.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,815 shares of the company’s stock after purchasing an additional 5,013 shares during the quarter. Horizon Investments LLC’s holdings in Molson Coors Beverage were worth $1,378,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of TAP. Tobam purchased a new stake in Molson Coors Beverage during the 1st quarter worth approximately $37,000. Lazard Asset Management LLC boosted its position in Molson Coors Beverage by 96.4% in the first quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock valued at $40,000 after buying an additional 373 shares during the last quarter. Quent Capital LLC increased its holdings in Molson Coors Beverage by 108.9% in the 1st quarter. Quent Capital LLC now owns 1,239 shares of the company’s stock worth $66,000 after buying an additional 646 shares during the period. CKW Financial Group raised its position in Molson Coors Beverage by 22.2% during the 1st quarter. CKW Financial Group now owns 1,650 shares of the company’s stock worth $86,000 after buying an additional 300 shares during the last quarter. Finally, CWM LLC lifted its stake in Molson Coors Beverage by 81.3% during the 1st quarter. CWM LLC now owns 1,953 shares of the company’s stock valued at $104,000 after acquiring an additional 876 shares during the period. Institutional investors own 79.22% of the company’s stock.
Molson Coors Beverage Stock Up 0.7 %
TAP opened at $52.17 on Monday. Molson Coors Beverage has a one year low of $42.46 and a one year high of $60.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.57 and a current ratio of 0.82. The business’s fifty day moving average is $55.59 and its two-hundred day moving average is $54.11. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 3.14 and a beta of 0.85.
Molson Coors Beverage (NYSE:TAP – Get Rating) last announced its earnings results on Tuesday, August 2nd. The company reported $1.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.19. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Molson Coors Beverage had a net margin of 5.73% and a return on equity of 6.46%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 earnings per share. Analysts anticipate that Molson Coors Beverage will post 3.91 EPS for the current fiscal year.
Molson Coors Beverage Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Thursday, September 1st. Molson Coors Beverage’s dividend payout ratio (DPR) is 45.10%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on TAP. Sanford C. Bernstein cut their price objective on shares of Molson Coors Beverage to $57.00 in a research note on Tuesday, August 9th. Redburn Partners upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating in a research report on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Molson Coors Beverage from $54.00 to $52.00 in a research report on Wednesday, August 3rd. TheStreet cut shares of Molson Coors Beverage from a “b” rating to a “c+” rating in a research note on Thursday, August 4th. Finally, The Goldman Sachs Group upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price objective for the company from $46.00 to $54.00 in a report on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.50.
About Molson Coors Beverage
Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.
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