Qsemble Capital Management LP Boosts Stake in Molson Coors Beverage (NYSE:TAP)

Qsemble Capital Management LP lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 23.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,474 shares of the company’s stock after acquiring an additional 9,234 shares during the quarter. Qsemble Capital Management LP’s holdings in Molson Coors Beverage were worth $2,788,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Lazard Asset Management LLC increased its holdings in Molson Coors Beverage by 6,659.2% during the 1st quarter. Lazard Asset Management LLC now owns 101,928 shares of the company’s stock worth $6,854,000 after purchasing an additional 100,420 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Molson Coors Beverage by 22.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock valued at $20,673,000 after acquiring an additional 56,584 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Molson Coors Beverage by 144.6% during the 1st quarter. Janus Henderson Group PLC now owns 73,909 shares of the company’s stock valued at $4,969,000 after acquiring an additional 43,696 shares during the last quarter. Redwood Investment Management LLC bought a new stake in shares of Molson Coors Beverage in the 1st quarter worth about $1,513,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Molson Coors Beverage in the 1st quarter valued at about $997,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

TAP has been the subject of a number of research reports. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Piper Sandler lifted their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays boosted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $60.57.

Molson Coors Beverage Stock Up 0.5 %

Shares of Molson Coors Beverage stock opened at $60.67 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The business’s fifty day moving average price is $56.84 and its two-hundred day moving average price is $54.43. The company has a market capitalization of $12.50 billion, a P/E ratio of 13.66, a PEG ratio of 2.34 and a beta of 0.82.

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

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors 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 dividend yield of 2.90%. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

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.