Czech National Bank Grows Stake in Molson Coors Beverage (NYSE:TAP)

Czech National Bank raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,790 shares of the company’s stock after purchasing an additional 1,139 shares during the period. Czech National Bank’s holdings in Molson Coors Beverage were worth $2,059,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TAP. Family Firm Inc. acquired a new position in Molson Coors Beverage during the 2nd quarter valued at about $26,000. Raleigh Capital Management Inc. increased its holdings in shares of Molson Coors Beverage by 2,087.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after acquiring an additional 501 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Molson Coors Beverage in the 2nd quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new stake in Molson Coors Beverage during the 4th quarter worth approximately $36,000. Finally, Crewe Advisors LLC acquired a new position in Molson Coors Beverage during the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TAP. Bank of America dropped their price objective on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. TD Cowen cut their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Wells Fargo & Company lifted their target price on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Barclays increased their price target on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $59.21.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $54.45 on Friday. The firm has a market cap of $11.54 billion, a PE ratio of 10.89, a P/E/G ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. 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 business has a 50-day moving average price of $54.49 and a 200 day moving average price of $55.77.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. Sell-side analysts predict 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 announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.23%. 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.