TD Asset Management Inc Raises Stock Position in Molson Coors Beverage (NYSE:TAP)

TD Asset Management Inc increased its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 8.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,346 shares of the company’s stock after purchasing an additional 3,936 shares during the period. TD Asset Management Inc’s holdings in Molson Coors Beverage were worth $2,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TAP. Czech National Bank grew its position in Molson Coors Beverage by 0.5% during the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after buying an additional 149 shares during the period. Kentucky Retirement Systems grew its position in Molson Coors Beverage by 1.5% during the fourth quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock valued at $907,000 after buying an additional 221 shares during the period. Empirical Finance LLC grew its position in Molson Coors Beverage by 3.5% during the first quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock valued at $455,000 after buying an additional 226 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in Molson Coors Beverage by 1.6% during 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 buying an additional 231 shares during the period. Finally, Affinity Investment Advisors LLC grew its position in Molson Coors Beverage by 2.9% during the first quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock valued at $579,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. TD Cowen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and dropped their target price for the company from $68.00 to $58.00 in a research report on Wednesday, August 7th. UBS Group boosted their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Bank of America lowered their price target on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Jefferies Financial Group lowered 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. Finally, Piper Sandler boosted 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 report on Wednesday, August 7th. Three 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.53.

Molson Coors Beverage Stock Up 0.9 %

Shares of Molson Coors Beverage stock opened at $54.31 on Friday. The company has a market cap of $11.51 billion, a P/E ratio of 10.86, a PEG ratio of 2.41 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The firm has a fifty day moving average of $53.20 and a two-hundred day moving average of $57.25.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 8.27% and a return on equity of 9.58%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 EPS. On average, analysts forecast that Molson Coors Beverage will post 5.75 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm 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 $0.44 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a yield of 3.24%. Molson Coors Beverage’s payout ratio is 35.20%.

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.