Massachusetts Financial Services Co. MA Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Massachusetts Financial Services Co. MA acquired a new stake in Molson Coors Beverage (NYSE:TAP) during the third quarter, HoldingsChannel.com reports. The fund acquired 37,407 shares of the company’s stock, valued at approximately $2,152,000.

Other large investors also recently modified their holdings of the company. Integrated Investment Consultants LLC boosted its position in shares of Molson Coors Beverage by 4.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after purchasing an additional 185 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Molson Coors Beverage in the third quarter valued at approximately $48,202,000. Landscape Capital Management L.L.C. bought a new position in shares of Molson Coors Beverage during the 3rd quarter worth approximately $1,755,000. Aurora Investment Counsel acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $1,100,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Molson Coors Beverage by 216.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,643 shares of the company’s stock valued at $2,971,000 after acquiring an additional 35,313 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on TAP. JPMorgan Chase & Co. increased their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. UBS Group raised their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. TD Cowen cut their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Finally, BNP Paribas began coverage on Molson Coors Beverage in a report on Monday. They set a “neutral” rating and a $64.00 price objective for the company. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.57.

Molson Coors Beverage Stock Down 0.3 %

TAP opened at $61.23 on Thursday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a market capitalization of $12.61 billion, a P/E ratio of 13.79, a PEG ratio of 2.35 and a beta of 0.82. The company’s 50-day moving average is $57.05 and its 200 day moving average is $54.46. 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 (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 EPS. Research analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.44 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.87%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Molson Coors Beverage 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.