Daiwa Securities Group Inc. Has $1.10 Million Stake in Molson Coors Beverage (NYSE:TAP)

Daiwa Securities Group Inc. reduced its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 16.9% in the second quarter, HoldingsChannel.com reports. The fund owned 21,579 shares of the company’s stock after selling 4,383 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Molson Coors Beverage were worth $1,097,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in Molson Coors Beverage during the 2nd quarter worth about $26,000. Raleigh Capital Management Inc. grew its holdings in Molson Coors Beverage by 2,087.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 501 shares during the period. GPS Wealth Strategies Group LLC grew its holdings in Molson Coors Beverage by 83.8% during the 2nd 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 period. Transcendent Capital Group LLC acquired a new stake in Molson Coors Beverage during the 4th quarter worth about $36,000. Finally, Quarry LP grew its holdings in Molson Coors Beverage by 69.3% during the 4th quarter. Quarry LP now owns 657 shares of the company’s stock worth $40,000 after acquiring an additional 269 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $54.94 on Monday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company’s 50 day moving average price is $53.30 and its two-hundred day moving average price is $57.12. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.38 billion, a P/E ratio of 10.99, a P/E/G ratio of 2.33 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the firm earned $1.78 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts predict that Molson Coors Beverage will post 5.75 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company 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 is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.20%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TAP shares. Deutsche Bank Aktiengesellschaft raised their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Jefferies Financial Group reduced their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Piper Sandler raised their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays raised their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their target price on Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.53.

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.