Molson Coors Beverage (NYSE:TAP) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP decreased its stake in Molson Coors Beverage (NYSE:TAP) by 45.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 200,540 shares of the company’s stock after selling 168,010 shares during the quarter. Bridgewater Associates LP owned approximately 0.10% of Molson Coors Beverage worth $11,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TAP. Family Firm Inc. acquired a new position in Molson Coors Beverage during the second quarter worth about $26,000. Altshuler Shaham Ltd acquired a new position in Molson Coors Beverage during the second quarter worth about $27,000. GPS Wealth Strategies Group LLC boosted its position in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after acquiring an additional 294 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage during the third quarter worth about $35,000. Finally, Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the third quarter worth about $42,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Shares of TAP opened at $61.25 on Friday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm’s 50 day moving average price is $57.16 and its 200 day moving average price is $54.50. The company has a market cap of $12.62 billion, a P/E ratio of 13.80, a PEG ratio of 2.35 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results 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 company had revenue of $3.04 billion for 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%. Molson Coors Beverage’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 EPS. On average, research analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TAP. Piper Sandler boosted their price target on shares of 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 target price on shares of 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 assumed coverage on shares of Molson Coors Beverage in a report on Monday. They issued a “neutral” rating and a $64.00 target price on the stock. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $52.00 to $74.00 in a report on Friday, November 8th. Finally, Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.57.

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.