Los Angeles Capital Management LLC bought a new stake in Molson Coors Beverage (NYSE:TAP – Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 58,159 shares of the company’s stock, valued at approximately $3,911,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Paralel Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 1.1% in the 3rd quarter. Paralel Advisors LLC now owns 37,005 shares of the company’s stock valued at $2,353,000 after purchasing an additional 418 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of Molson Coors Beverage by 37.9% in the third quarter. Kestra Advisory Services LLC now owns 28,886 shares of the company’s stock valued at $1,837,000 after acquiring an additional 7,935 shares during the period. Rafferty Asset Management LLC grew its position in shares of Molson Coors Beverage by 10.2% during the third quarter. Rafferty Asset Management LLC now owns 13,830 shares of the company’s stock worth $879,000 after acquiring an additional 1,275 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at $576,000. Finally, Envestnet Asset Management Inc. raised its position in Molson Coors Beverage by 234.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 318,488 shares of the company’s stock valued at $20,253,000 after purchasing an additional 223,220 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.
Molson Coors Beverage Trading Up 0.7 %
Shares of Molson Coors Beverage stock opened at $50.64 on Friday. The company has a 50-day moving average of $56.70 and a two-hundred day moving average of $61.14. The stock has a market cap of $10.73 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.82 and a beta of 0.81. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $70.90.
Molson Coors Beverage Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.76 annualized dividend and a dividend yield of 3.48%. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.
Analyst Ratings Changes
A number of research analysts have commented on TAP shares. UBS Group dropped their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Citigroup reduced their price objective on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research note on Wednesday, May 1st. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Barclays cut their price target on Molson Coors Beverage from $62.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.07.
Get Our Latest Stock Analysis on Molson Coors Beverage
About Molson Coors Beverage
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.
Featured Articles
- Five stocks we like better than Molson Coors Beverage
- Quiet Period Expirations Explained
- Darden Stock Up After Q4 Earnings Beat, Cautious FY25 Outlook
- Pros And Cons Of Monthly Dividend Stocks
- Celsius Stock: Why Piper Sandler Forecasts a 50% Surge
- How to Choose Top Rated Stocks
- Accenture’s Stock Earnings Reveal an AI-Powered Growth Strategy
Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage (NYSE:TAP – Free Report).
Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.