Molson Coors Beverage (NYSE:TAP) Stock Position Reduced by Swedbank AB

Swedbank AB trimmed its position in Molson Coors Beverage (NYSE:TAP) by 0.7% in the third quarter, Holdings Channel.com reports. The fund owned 97,654 shares of the company’s stock after selling 640 shares during the period. Swedbank AB’s holdings in Molson Coors Beverage were worth $5,617,000 as of its most recent filing with the Securities and Exchange Commission.

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

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $61.23 on Thursday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. 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 firm has a 50-day moving average of $57.05 and a two-hundred day moving average of $54.46. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.35 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion during 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 firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.92 earnings per share. As a group, analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently weighed in on TAP shares. TD Cowen dropped their price target 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. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. UBS Group lifted their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $60.57.

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.