Molson Coors Beverage (NYSE:TAP) Shares Acquired by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC boosted its position in Molson Coors Beverage (NYSE:TAP) by 4.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,154 shares of the company’s stock after purchasing an additional 185 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Molson Coors Beverage were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after acquiring an additional 2,155,842 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Molson Coors Beverage during the 3rd quarter worth $48,202,000. Ilex Capital Partners UK LLP acquired a new stake in shares of Molson Coors Beverage during the first quarter worth $53,096,000. Millennium Management LLC increased its stake in Molson Coors Beverage by 541.4% in the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock valued at $38,893,000 after purchasing an additional 645,847 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted 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 buying an additional 434,685 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TAP. JPMorgan Chase & Co. lifted their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Barclays increased their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. UBS Group lifted their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $60.31.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $60.36 on Friday. The firm has a market capitalization of $12.43 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The stock’s 50 day moving average price is $56.73 and its 200 day moving average price is $54.46. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.92 EPS. As a group, sell-side analysts expect that Molson Coors Beverage will post 5.78 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, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.92%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

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.