Molson Coors Beverage (NYSE:TAP) Shares Sold by Swedbank AB

Swedbank AB trimmed its stake in Molson Coors Beverage (NYSE:TAP) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,654 shares of the company’s stock after selling 640 shares during the quarter. Swedbank AB’s holdings in Molson Coors Beverage were worth $5,617,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Family Firm Inc. purchased a new position in Molson Coors Beverage in the 2nd quarter valued at about $26,000. Altshuler Shaham Ltd acquired a new stake in Molson Coors Beverage during the second quarter worth approximately $27,000. GPS Wealth Strategies Group LLC grew its stake in Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after acquiring an additional 294 shares during the period. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage in the 3rd quarter valued at $35,000. Finally, Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage during the 3rd quarter worth $42,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. upped 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. TD Cowen cut their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Barclays lifted their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.57.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $61.23 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The stock’s 50 day moving average price is $57.05 and its 200 day moving average price is $54.46. The firm has a market capitalization of $12.61 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last announced its 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. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

About Molson Coors Beverage

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.