Doliver Advisors LP Boosts Stake in Molson Coors Beverage (NYSE:TAP)

Doliver Advisors LP raised its holdings in Molson Coors Beverage (NYSE:TAP) by 60.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,136 shares of the company’s stock after purchasing an additional 3,803 shares during the period. Doliver Advisors LP’s holdings in Molson Coors Beverage were worth $583,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank boosted its position in Molson Coors Beverage by 0.5% during the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after acquiring an additional 149 shares during the period. Empirical Finance LLC lifted its stake in shares of Molson Coors Beverage by 3.5% in the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after acquiring an additional 226 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Molson Coors Beverage by 1.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock valued at $1,000,000 after acquiring an additional 231 shares in the last quarter. Affinity Investment Advisors LLC increased its stake in shares of Molson Coors Beverage by 2.9% during the first quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock valued at $579,000 after acquiring an additional 246 shares during the period. Finally, Private Advisor Group LLC raised its holdings in Molson Coors Beverage by 0.8% during the first quarter. Private Advisor Group LLC now owns 31,508 shares of the company’s stock worth $2,119,000 after purchasing an additional 250 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 1.8 %

Shares of NYSE:TAP opened at $56.33 on Thursday. The company’s fifty day moving average is $54.22 and its 200-day moving average is $56.38. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a market capitalization of $11.93 billion, a PE ratio of 11.27, a P/E/G ratio of 2.38 and a beta of 0.81.

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 the consensus estimate of $1.68 by $0.24. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. Equities research analysts predict that Molson Coors Beverage will post 5.75 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.12%. Molson Coors Beverage’s dividend payout ratio is 35.20%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TAP. Bank of America cut 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. Piper Sandler boosted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. TD Cowen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and reduced their target price for the stock from $68.00 to $58.00 in a report on Wednesday, August 7th. Wells Fargo & Company increased 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. Finally, Jefferies Financial Group decreased their price target on 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. 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. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $60.53.

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.