24,337 Shares in Molson Coors Beverage (NYSE:TAP) Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. purchased a new stake in Molson Coors Beverage (NYSE:TAP) during the 2nd quarter, HoldingsChannel reports. The fund purchased 24,337 shares of the company’s stock, valued at approximately $1,237,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Family Firm Inc. bought a new position in shares of Molson Coors Beverage in the 2nd quarter worth $26,000. Raleigh Capital Management Inc. grew its position in Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 501 shares in the last quarter. GPS Wealth Strategies Group LLC increased its stake in Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after acquiring an additional 294 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in Molson Coors Beverage during the fourth quarter valued at about $36,000. Finally, Quarry LP lifted its stake in Molson Coors Beverage by 69.3% during the fourth quarter. Quarry LP now owns 657 shares of the company’s stock worth $40,000 after purchasing an additional 269 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TAP has been the topic of a number of research reports. Barclays raised their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Citigroup decreased their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company upped their price target on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group decreased their price target on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Stock Up 1.3 %

Shares of Molson Coors Beverage stock opened at $55.31 on Friday. The company’s fifty day simple moving average is $53.94 and its two-hundred day simple moving average is $56.71. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.72 billion, a P/E ratio of 11.06, a PEG ratio of 2.38 and a beta of 0.81.

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

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors 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 annualized dividend and a yield of 3.18%. Molson Coors Beverage’s payout ratio is 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.