Railway Pension Investments Ltd Takes $10.50 Million Position in Molson Coors Beverage (NYSE:TAP)

Railway Pension Investments Ltd bought a new position in shares of Molson Coors Beverage (NYSE:TAP) during the second quarter, according to its most recent filing with the SEC. The fund bought 206,600 shares of the company’s stock, valued at approximately $10,501,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its position in shares of Molson Coors Beverage by 6,418.1% during the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after acquiring an additional 149,093 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at approximately $686,000. Signaturefd LLC boosted its holdings in Molson Coors Beverage by 30.2% in the 4th quarter. Signaturefd LLC now owns 1,193 shares of the company’s stock worth $73,000 after buying an additional 277 shares during the period. CWM LLC grew its stake in Molson Coors Beverage by 24.0% in the 4th quarter. CWM LLC now owns 6,501 shares of the company’s stock valued at $398,000 after buying an additional 1,260 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Molson Coors Beverage by 26.0% during the 4th quarter. California Public Employees Retirement System now owns 455,577 shares of the company’s stock valued at $27,886,000 after acquiring an additional 94,125 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 0.5 %

Shares of Molson Coors Beverage stock traded down $0.26 during trading on Tuesday, hitting $53.62. The company’s stock had a trading volume of 128,541 shares, compared to its average volume of 1,913,877. The company has a market capitalization of $11.36 billion, a PE ratio of 10.78, a P/E/G ratio of 2.26 and a beta of 0.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a fifty day simple moving average of $52.15 and a two-hundred day simple moving average of $57.85.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 EPS. Equities research analysts predict that Molson Coors Beverage will post 5.56 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.28%. Molson Coors Beverage’s payout ratio is presently 35.20%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TAP. Piper Sandler raised their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Bank of America reduced their price objective on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Citigroup decreased their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Evercore ISI reduced their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average price target of $60.53.

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.