Molson Coors Beverage (NYSE:TAP) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its holdings in Molson Coors Beverage (NYSE:TAP) by 45.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 200,540 shares of the company’s stock after selling 168,010 shares during the quarter. Bridgewater Associates LP’s holdings in Molson Coors Beverage were worth $11,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in Molson Coors Beverage by 11.8% in the third 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 last quarter. Integrated Investment Consultants LLC grew its position in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after buying an additional 185 shares during the last quarter. Perpetual Ltd raised its stake in Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after acquiring an additional 197 shares in the last quarter. SkyView Investment Advisors LLC lifted its position 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 during the last quarter. Finally, Private Advisor Group LLC boosted its stake in Molson Coors Beverage by 0.9% in the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $61.25 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $57.16 and a 200-day simple moving average of $54.50. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.92 earnings per share. On average, equities analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued 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%.

Analyst Upgrades and Downgrades

TAP has been the subject of several research reports. 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 report on Wednesday, August 7th. Barclays increased their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. UBS Group lifted their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler increased their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Two equities 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.57.

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.