Public Sector Pension Investment Board Increases Position in Molson Coors Beverage (NYSE:TAP)

Public Sector Pension Investment Board boosted its holdings in Molson Coors Beverage (NYSE:TAP) by 72.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,365 shares of the company’s stock after purchasing an additional 2,667 shares during the quarter. Public Sector Pension Investment Board’s holdings in Molson Coors Beverage were worth $324,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TAP. Family Firm Inc. purchased a new stake in shares of Molson Coors Beverage during the second quarter valued at approximately $26,000. Altshuler Shaham Ltd purchased a new stake in shares of Molson Coors Beverage during the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. grew its holdings in shares of Molson Coors Beverage by 2,087.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 501 shares during the last quarter. GPS Wealth Strategies Group LLC grew its holdings in shares of Molson Coors Beverage by 83.8% during the second 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. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Molson Coors Beverage during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 1.4 %

TAP opened at $55.53 on Friday. 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 fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm’s fifty day moving average is $54.28 and its 200 day moving average is $56.38. The stock has a market cap of $11.77 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 2.38 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the company earned $1.78 EPS. Molson Coors Beverage’s revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts forecast that Molson Coors Beverage will post 5.75 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

Analyst Ratings Changes

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

Molson Coors Beverage Company 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.