Janus Henderson Group PLC Sells 520 Shares of Molson Coors Beverage (NYSE:TAP)

Janus Henderson Group PLC decreased its position in Molson Coors Beverage (NYSE:TAP) by 1.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,288 shares of the company’s stock after selling 520 shares during the quarter. Janus Henderson Group PLC’s holdings in Molson Coors Beverage were worth $1,800,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TAP. Pacer Advisors Inc. lifted its holdings in Molson Coors Beverage by 66.5% in the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after acquiring an additional 2,155,842 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in Molson Coors Beverage in the third quarter valued at about $48,202,000. Millennium Management LLC lifted its holdings in Molson Coors Beverage by 541.4% in the second 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. Dimensional Fund Advisors LP lifted its holdings in Molson Coors Beverage by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after acquiring an additional 434,685 shares during the period. Finally, Randolph Co Inc bought a new position in Molson Coors Beverage in the third quarter valued at about $21,754,000. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of recent research reports. Barclays increased their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. TD Cowen reduced their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $60.94 on Friday. The stock has a market capitalization of $12.55 billion, a PE ratio of 13.73, a P/E/G ratio of 2.37 and a beta of 0.85. The business has a 50 day simple moving average of $58.43 and a two-hundred day simple moving average of $54.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 EPS. On average, research analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Molson Coors Beverage Company 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.