Molson Coors Beverage (NYSE:TAP) Stake Raised by Qsemble Capital Management LP

Qsemble Capital Management LP raised its holdings in Molson Coors Beverage (NYSE:TAP) by 23.5% in the third quarter, Holdings Channel.com reports. The fund owned 48,474 shares of the company’s stock after acquiring an additional 9,234 shares during the period. Qsemble Capital Management LP’s holdings in Molson Coors Beverage were worth $2,788,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. iA Global Asset Management Inc. boosted its holdings in Molson Coors Beverage by 117.5% during the first quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after buying an additional 17,062 shares in the last quarter. Wakefield Asset Management LLLP raised its position in shares of Molson Coors Beverage by 124.5% during the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock worth $2,709,000 after purchasing an additional 29,552 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Molson Coors Beverage in the 2nd quarter valued at $3,842,000. Wedge Capital Management L L P NC increased its stake in Molson Coors Beverage by 4.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 689,027 shares of the company’s stock worth $35,023,000 after purchasing an additional 27,203 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Molson Coors Beverage by 22.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock worth $20,673,000 after buying an additional 56,584 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.5 %

Molson Coors Beverage stock opened at $60.67 on Tuesday. The company has a market capitalization of $12.50 billion, a P/E ratio of 13.66, a P/E/G ratio of 2.34 and a beta of 0.82. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm’s fifty day simple moving average is $56.84 and its 200-day simple moving average is $54.43. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

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

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday. They issued a “neutral” rating and a $64.00 target price on the stock. Piper Sandler boosted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Two 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, Molson Coors Beverage currently 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.