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

Clark Estates Inc. NY increased its position in shares of Molson Coors Beverage (NYSE:TAP) by 18.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 60,000 shares of the company’s stock after acquiring an additional 9,200 shares during the period. Clark Estates Inc. NY’s holdings in Molson Coors Beverage were worth $3,451,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TAP. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 purchasing an additional 56,584 shares during the period. Janus Henderson Group PLC boosted its position in Molson Coors Beverage by 144.6% in the 1st quarter. Janus Henderson Group PLC now owns 73,909 shares of the company’s stock valued at $4,969,000 after buying an additional 43,696 shares during the period. Comerica Bank grew its stake in shares of Molson Coors Beverage by 4.0% in the first quarter. Comerica Bank now owns 105,098 shares of the company’s stock worth $7,068,000 after acquiring an additional 4,079 shares in the last quarter. iA Global Asset Management Inc. increased its position in shares of 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 acquiring an additional 17,062 shares during the period. Finally, Swedbank AB acquired a new stake in shares of Molson Coors Beverage in the first quarter valued at $6,997,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $61.41 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market cap of $12.65 billion, a PE ratio of 13.83, a P/E/G ratio of 2.35 and a beta of 0.82. The stock has a fifty day moving average price of $56.94 and a 200 day moving average price of $54.44. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

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

Molson Coors Beverage Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TAP. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. 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 price objective on the stock. TD Cowen lowered their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, 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.