Molson Coors Beverage (NYSE:TAP) Shares Acquired by Clark Estates Inc. NY

Clark Estates Inc. NY lifted its stake in Molson Coors Beverage (NYSE:TAP) by 18.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,000 shares of the company’s stock after buying an additional 9,200 shares during the quarter. Clark Estates Inc. NY’s holdings in Molson Coors Beverage were worth $3,451,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TAP. Pacer Advisors Inc. boosted its position in Molson Coors Beverage by 66.5% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP raised its position in 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 acquiring an additional 434,685 shares during the period. River Road Asset Management LLC lifted its holdings in Molson Coors Beverage by 1.8% during the third quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock valued at $96,475,000 after purchasing an additional 29,315 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at about $48,202,000. Finally, Millennium Management LLC raised 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 during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 1.2 %

Shares of Molson Coors Beverage stock opened at $61.41 on Wednesday. The stock has a 50 day moving average of $56.94 and a 200 day moving average of $54.44. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market capitalization of $12.65 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 2.35 and a beta of 0.82. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period last year, the company earned $1.92 EPS. As a group, research analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Piper Sandler boosted their price objective 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. 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 report on Tuesday, October 8th. Barclays raised their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a report on Monday. They set a “neutral” rating and a $64.00 target price for the company. Finally, UBS Group raised their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Two 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. According to MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $60.57.

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.