Molson Coors Beverage (NYSE:TAP) Shares Acquired by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. boosted its stake in Molson Coors Beverage (NYSE:TAP) by 7.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,030 shares of the company’s stock after acquiring an additional 10,586 shares during the period. Capital Group Private Client Services Inc. owned 0.07% of Molson Coors Beverage worth $9,888,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TAP. Czech National Bank increased its position in shares of Molson Coors Beverage by 0.5% in the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after purchasing an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Molson Coors Beverage by 1.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock valued at $709,000 after buying an additional 174 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Molson Coors Beverage by 46.6% during the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock valued at $39,000 after buying an additional 186 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in Molson Coors Beverage by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after buying an additional 200 shares during the last quarter. Finally, Kentucky Retirement Systems lifted its holdings in Molson Coors Beverage by 1.5% during the 4th quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock worth $907,000 after buying an additional 221 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TAP shares. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Wells Fargo & Company dropped their target price on shares of Molson Coors Beverage from $55.00 to $50.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group reduced their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Barclays downgraded shares of Molson Coors Beverage from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $55.00 to $47.00 in a research report on Thursday, July 18th. Finally, UBS Group dropped their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Three 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 company. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $60.47.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded up $0.32 during mid-day trading on Friday, hitting $54.33. 1,631,922 shares of the company’s stock traded hands, compared to its average volume of 1,934,246. Molson Coors Beverage has a one year low of $49.19 and a one year high of $70.89. The company has a market cap of $11.51 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 2.05 and a beta of 0.81. The firm has a 50 day moving average price of $52.04 and a 200 day moving average price of $59.33. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. On average, equities analysts forecast that Molson Coors Beverage will post 5.58 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.24%. Molson Coors Beverage’s dividend payout ratio is presently 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.