Mutual of America Capital Management LLC Has $1.25 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Mutual of America Capital Management LLC lowered its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 5.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 21,656 shares of the company’s stock after selling 1,297 shares during the period. Mutual of America Capital Management LLC’s holdings in Molson Coors Beverage were worth $1,246,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in shares of Molson Coors Beverage by 66.5% in the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after acquiring an additional 2,155,842 shares during the last quarter. Millennium Management LLC increased its position in Molson Coors Beverage by 541.4% during the 2nd quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock worth $38,893,000 after purchasing an additional 645,847 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Molson Coors Beverage by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after purchasing an additional 434,685 shares in the last quarter. Randolph Co Inc acquired a new stake in Molson Coors Beverage in the third quarter valued at approximately $21,754,000. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Molson Coors Beverage by 471.2% during the second quarter. Royal London Asset Management Ltd. now owns 452,692 shares of the company’s stock worth $23,010,000 after buying an additional 373,440 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays increased their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft upped their price objective on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, TD Cowen decreased their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $60.57.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $60.67 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $56.84 and its two-hundred day simple moving average is $54.43. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a market capitalization of $12.50 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company earned $1.92 EPS. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, analysts predict that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

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.