Andra AP fonden Has $5.92 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Andra AP fonden increased its position in shares of Molson Coors Beverage (NYSE:TAP) by 36.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 116,500 shares of the company’s stock after buying an additional 31,000 shares during the quarter. Andra AP fonden owned about 0.05% of Molson Coors Beverage worth $5,922,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TAP. Teacher Retirement System of Texas increased its holdings in Molson Coors Beverage by 227.8% during the 4th quarter. Teacher Retirement System of Texas now owns 48,219 shares of the company’s stock worth $2,951,000 after purchasing an additional 33,508 shares in the last quarter. Jump Financial LLC increased its holdings in Molson Coors Beverage by 120.5% during the 4th quarter. Jump Financial LLC now owns 17,500 shares of the company’s stock worth $1,071,000 after purchasing an additional 9,564 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Molson Coors Beverage by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 213,092 shares of the company’s stock worth $13,043,000 after purchasing an additional 884 shares in the last quarter. Boston Partners bought a new stake in Molson Coors Beverage during the 4th quarter worth approximately $7,743,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Molson Coors Beverage by 9.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 188,698 shares of the company’s stock worth $11,707,000 after purchasing an additional 15,620 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of recent research reports. TD Cowen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $68.00 to $58.00 in a report on Wednesday, August 7th. Jefferies Financial Group decreased their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Bank of America decreased their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. UBS Group upped their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average price target of $60.53.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $53.84 on Thursday. The stock has a fifty day simple moving average of $53.12 and a two-hundred day simple moving average of $57.27. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 2.41 and a beta of 0.81. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the company earned $1.78 earnings per share. Molson Coors Beverage’s revenue was down .4% compared to the same quarter last year. Analysts anticipate that Molson Coors Beverage will post 5.75 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.27%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

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.