BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $1.81 Million Stake in Molson Coors Beverage (NYSE:TAP)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Molson Coors Beverage (NYSE:TAP) by 58.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,690 shares of the company’s stock after purchasing an additional 13,201 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Molson Coors Beverage were worth $1,814,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. bought a new stake in Molson Coors Beverage in the 2nd quarter valued at $26,000. Altshuler Shaham Ltd bought a new stake in shares of Molson Coors Beverage during the second quarter worth $27,000. Raleigh Capital Management Inc. grew its holdings in Molson Coors Beverage by 2,087.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 501 shares during the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Molson Coors Beverage in the 4th quarter valued at $36,000. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TAP. Jefferies Financial Group dropped their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. JPMorgan Chase & Co. lifted their price objective on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company lifted their target price 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, TD Cowen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating and lowered their price target for the stock from $68.00 to $58.00 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 assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.53.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $56.83 on Monday. The stock has a market capitalization of $12.04 billion, a PE ratio of 11.37, a P/E/G ratio of 2.38 and a beta of 0.81. The business has a fifty day moving average price of $54.03 and a two-hundred day moving average price of $56.51. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75.

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

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio is currently 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.