BNP Paribas Arbitrage SNC increased its holdings in shares of Molson Coors Beverage (NYSE:TAP – Free Report) by 3.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,125 shares of the company’s stock after purchasing an additional 3,132 shares during the quarter. BNP Paribas Arbitrage SNC owned 0.05% of Molson Coors Beverage worth $7,185,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TAP. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Molson Coors Beverage by 71,854.2% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 526,000,917 shares of the company’s stock worth $34,631,900,000 after purchasing an additional 525,269,895 shares during the last quarter. Norges Bank acquired a new position in Molson Coors Beverage in the 4th quarter valued at about $83,092,000. Vanguard Group Inc. grew its position in Molson Coors Beverage by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock valued at $1,138,589,000 after acquiring an additional 1,235,013 shares in the last quarter. Dodge & Cox grew its position in Molson Coors Beverage by 3.8% in the 1st quarter. Dodge & Cox now owns 28,120,054 shares of the company’s stock valued at $1,453,244,000 after acquiring an additional 1,032,150 shares in the last quarter. Finally, Liontrust Investment Partners LLP acquired a new position in Molson Coors Beverage in the 1st quarter valued at about $32,391,000. 73.95% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Citigroup dropped their target price on Molson Coors Beverage from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 11th. Barclays dropped their target price on Molson Coors Beverage from $68.00 to $66.00 and set an “equal weight” rating for the company in a research report on Thursday, October 12th. Bank of America boosted their price objective on Molson Coors Beverage from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 4th. TheStreet downgraded Molson Coors Beverage from a “b-” rating to a “c” rating in a research report on Monday, October 23rd. Finally, Wedbush reissued a “neutral” rating and set a $70.00 price objective on shares of Molson Coors Beverage in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.50.
Molson Coors Beverage Trading Down 0.6 %
Shares of TAP stock opened at $59.00 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.73 and a quick ratio of 0.53. The firm has a market capitalization of $12.73 billion, a PE ratio of 51.30, a P/E/G ratio of 1.09 and a beta of 0.92. Molson Coors Beverage has a 1-year low of $48.49 and a 1-year high of $70.90. The business’s fifty day moving average price is $60.29 and its 200 day moving average price is $63.32.
Molson Coors Beverage Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.64 annualized dividend and a dividend yield of 2.78%. Molson Coors Beverage’s dividend payout ratio is currently 142.61%.
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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.
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