Wellington Management Group LLP Sells 1,576 Shares of Molson Coors Beverage (NYSE:TAP)

Wellington Management Group LLP trimmed its position in shares of Molson Coors Beverage (NYSE:TAP) by 20.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,192 shares of the company’s stock after selling 1,576 shares during the period. Wellington Management Group LLP’s holdings in Molson Coors Beverage were worth $356,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after purchasing an additional 182 shares during the period. Integrated Investment Consultants LLC raised its holdings in shares of Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after acquiring an additional 185 shares in the last quarter. Perpetual Ltd lifted its stake in Molson Coors Beverage by 1.0% in the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after acquiring an additional 197 shares during the period. SkyView Investment Advisors LLC boosted its holdings in Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after acquiring an additional 274 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in Molson Coors Beverage by 0.9% during the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after purchasing an additional 277 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on TAP shares. BNP Paribas began coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. TD Cowen cut their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Barclays upped their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $62.00.

Molson Coors Beverage Stock Up 1.2 %

NYSE:TAP opened at $59.34 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market cap of $12.22 billion, a P/E ratio of 13.36, a P/E/G ratio of 2.38 and a beta of 0.85. 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 50-day simple moving average of $58.89 and a two-hundred day simple moving average of $55.14.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’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 earnings per share. Analysts predict 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 declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is currently 39.64%.

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.