Susquehanna Fundamental Investments LLC Takes $681,000 Position in Molson Coors Beverage (NYSE:TAP)

Susquehanna Fundamental Investments LLC bought a new stake in Molson Coors Beverage (NYSE:TAP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 13,400 shares of the company’s stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its stake in shares of Molson Coors Beverage by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 146,029 shares of the company’s stock valued at $7,423,000 after acquiring an additional 10,014 shares during the last quarter. Millennium Management LLC increased its holdings in Molson Coors Beverage by 541.4% during the 2nd quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock valued at $38,893,000 after purchasing an additional 645,847 shares during the period. MBB Public Markets I LLC purchased a new position in Molson Coors Beverage during the 2nd quarter valued at about $656,000. APG Asset Management N.V. increased its holdings in Molson Coors Beverage by 156.3% during the 2nd quarter. APG Asset Management N.V. now owns 26,075 shares of the company’s stock valued at $1,237,000 after purchasing an additional 15,900 shares during the period. Finally, Ariel Investments LLC increased its holdings in Molson Coors Beverage by 12.6% during the 2nd quarter. Ariel Investments LLC now owns 463,517 shares of the company’s stock valued at $23,561,000 after purchasing an additional 51,944 shares during the period. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $56.33 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $54.22 and its 200-day moving average price is $56.38. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock has a market cap of $11.93 billion, a P/E ratio of 11.22, a P/E/G ratio of 2.38 and a beta of 0.81.

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

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.12%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Analyst Ratings Changes

A number of research analysts recently issued reports on TAP shares. Barclays boosted their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. UBS Group boosted their price target on 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 boosted their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Citigroup reduced their price target on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Finally, TD Cowen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating and reduced their price target for the company from $68.00 to $58.00 in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $60.53.

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.