Altshuler Shaham Ltd Purchases Shares of 536 Molson Coors Beverage (NYSE:TAP)

Altshuler Shaham Ltd acquired a new stake in Molson Coors Beverage (NYSE:TAP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 536 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds have also recently made changes to their positions in TAP. Family Firm Inc. acquired a new stake in shares of Molson Coors Beverage in the 2nd quarter worth about $26,000. Raleigh Capital Management Inc. raised 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 purchasing an additional 501 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $36,000. Crewe Advisors LLC bought a new stake in Molson Coors Beverage during the first quarter worth $43,000. Finally, GPS Wealth Strategies Group LLC grew its holdings in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after buying an additional 294 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TAP shares. JPMorgan Chase & Co. upped their target price on Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Barclays boosted their target price on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Jefferies Financial Group decreased their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Piper Sandler upped their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Bank of America reduced their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $60.53.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $54.49 on Monday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock has a fifty day moving average of $53.77 and a 200 day moving average of $56.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 2.33 and a beta of 0.81.

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 firm 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 company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the company posted $1.78 EPS. On average, research analysts expect that Molson Coors Beverage will post 5.75 EPS 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 $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s payout ratio is 35.20%.

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.