Axa S.A. Grows Stock Position in Molson Coors Beverage (NYSE:TAP)

Axa S.A. increased its position in shares of Molson Coors Beverage (NYSE:TAP) by 5.2% in the 2nd quarter, Holdings Channel reports. The firm owned 281,666 shares of the company’s stock after purchasing an additional 13,819 shares during the period. Axa S.A.’s holdings in Molson Coors Beverage were worth $14,317,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank lifted its stake in Molson Coors Beverage by 0.5% during the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after acquiring an additional 149 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of Molson Coors Beverage by 3.5% in the first quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock valued at $455,000 after purchasing an additional 226 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Molson Coors Beverage by 1.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock valued at $1,000,000 after purchasing an additional 231 shares during the period. Affinity Investment Advisors LLC grew its holdings in shares of Molson Coors Beverage by 2.9% in the first quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock valued at $579,000 after purchasing an additional 246 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Molson Coors Beverage by 0.8% during the 1st quarter. Private Advisor Group LLC now owns 31,508 shares of the company’s stock worth $2,119,000 after buying an additional 250 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on TAP. UBS Group raised their price target 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. Deutsche Bank Aktiengesellschaft upped their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Bank of America lowered their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company raised their target price on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a report on Wednesday, August 7th. Three 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Stock Up 2.7 %

Shares of NYSE TAP opened at $56.83 on Friday. The business has a 50-day moving average price of $54.03 and a 200 day moving average price of $56.64. The stock has a market cap of $12.04 billion, a PE ratio of 11.37, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The company’s revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 earnings per share. Equities research analysts forecast that Molson Coors Beverage will post 5.75 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a $0.44 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.10%. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

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.