Natixis Advisors LLC Sells 2,453 Shares of Molson Coors Beverage (NYSE:TAP)

Natixis Advisors LLC decreased its position in Molson Coors Beverage (NYSE:TAP) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,964 shares of the company’s stock after selling 2,453 shares during the quarter. Natixis Advisors LLC’s holdings in Molson Coors Beverage were worth $1,676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Family Firm Inc. bought a new position in shares of Molson Coors Beverage in the 2nd quarter worth approximately $26,000. Raleigh Capital Management Inc. lifted its stake in shares of Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 501 shares in the last quarter. GPS Wealth Strategies Group LLC grew its holdings in shares of Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after buying an additional 294 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in Molson Coors Beverage during the 4th quarter valued at $36,000. Finally, Quarry LP boosted its position in shares of Molson Coors Beverage by 69.3% during the fourth quarter. Quarry LP now owns 657 shares of the company’s stock valued at $40,000 after buying an additional 269 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 2.1 %

NYSE:TAP opened at $54.75 on Wednesday. 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 capitalization of $11.34 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 2.41 and a beta of 0.81. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The firm has a 50 day moving average of $53.06 and a 200 day moving average of $57.29.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. Molson Coors Beverage’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 EPS. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.75 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.21%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company upped their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. TD Cowen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating and lowered their target price for the company from $68.00 to $58.00 in a research report on Wednesday, August 7th. Barclays boosted their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Bank of America cut their target price on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.53.

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.