UniSuper Management Pty Ltd Grows Stock Position in Molson Coors Beverage (NYSE:TAP)

UniSuper Management Pty Ltd grew its stake in Molson Coors Beverage (NYSE:TAP) by 563.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,359 shares of the company’s stock after buying an additional 13,892 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Molson Coors Beverage were worth $1,100,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TAP. Tennessee Valley Asset Management Partners acquired a new position in Molson Coors Beverage in the fourth quarter valued at approximately $29,000. Montag A & Associates Inc. acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $31,000. Raleigh Capital Management Inc. lifted its stake in shares of Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 501 shares during the period. Transcendent Capital Group LLC purchased a new stake in Molson Coors Beverage during the fourth quarter worth $36,000. Finally, Allworth Financial LP grew its position in Molson Coors Beverage by 179.4% during the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock valued at $38,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 0.9 %

Shares of TAP traded up $0.48 during midday trading on Wednesday, reaching $53.37. The company had a trading volume of 1,911,656 shares, compared to its average volume of 1,934,830. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $70.90. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $52.11 and a 200-day simple moving average of $59.37. The stock has a market cap of $11.31 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.21. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. Molson Coors Beverage’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $0.54 earnings per share. Research analysts forecast that Molson Coors Beverage will post 5.58 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a $0.44 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.30%. Molson Coors Beverage’s payout ratio is 35.20%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Molson Coors Beverage from $60.00 to $54.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Barclays lowered Molson Coors Beverage from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $55.00 to $47.00 in a research report on Thursday, July 18th. Wells Fargo & Company cut their price target on shares of Molson Coors Beverage from $55.00 to $50.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Finally, Citigroup decreased their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Three investment 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $61.07.

Molson Coors Beverage Company 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.