Mather Group LLC. Trims Stake in Molson Coors Beverage (NYSE:TAP)

Mather Group LLC. lessened its stake in Molson Coors Beverage (NYSE:TAP) by 15.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,398 shares of the company’s stock after selling 602 shares during the period. Mather Group LLC.’s holdings in Molson Coors Beverage were worth $195,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TAP. Pacer Advisors Inc. lifted its stake in shares of Molson Coors Beverage by 66.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after purchasing an additional 2,155,842 shares during the period. Capital International Investors raised its position in shares of Molson Coors Beverage by 10.7% in the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after acquiring an additional 939,142 shares during the period. Ilex Capital Partners UK LLP purchased a new stake in shares of Molson Coors Beverage during the 1st quarter worth about $53,096,000. Millennium Management LLC grew its position in shares of Molson Coors Beverage by 541.4% during the 2nd quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock valued at $38,893,000 after acquiring an additional 645,847 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after purchasing an additional 434,685 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.1 %

TAP stock opened at $54.45 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $54.49 and a two-hundred day moving average of $55.85. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. As a group, analysts forecast that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.23%. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Citigroup lowered their price target on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group dropped their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. UBS Group boosted their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, TD Cowen cut 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. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.21.

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.