B. Metzler seel. Sohn & Co. Holding AG Buys Shares of 13,807 Molson Coors Beverage (NYSE:TAP)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Molson Coors Beverage (NYSE:TAP) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 13,807 shares of the company’s stock, valued at approximately $794,000.

Several other large investors have also made changes to their positions in TAP. Axxcess Wealth Management LLC boosted its holdings in shares of Molson Coors Beverage by 10.3% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,880 shares of the company’s stock valued at $597,000 after purchasing an additional 832 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Molson Coors Beverage by 28.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 310,700 shares of the company’s stock worth $20,895,000 after buying an additional 68,900 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Molson Coors Beverage by 6,659.2% in the first quarter. Lazard Asset Management LLC now owns 101,928 shares of the company’s stock valued at $6,854,000 after buying an additional 100,420 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Molson Coors Beverage by 22.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock valued at $20,673,000 after buying an additional 56,584 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Molson Coors Beverage in the first quarter valued at about $1,466,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.2 %

Shares of TAP stock opened at $60.36 on Friday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.34 and a beta of 0.82. The stock has a 50-day moving average of $56.84 and a 200-day moving average of $54.45.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm posted $1.92 EPS. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts forecast that Molson Coors Beverage will post 5.78 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, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. TD Cowen cut their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. UBS Group increased their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Barclays boosted their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.31.

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.