Thrivent Financial for Lutherans Sells 7,430 Shares of Molson Coors Beverage (NYSE:TAP)

Thrivent Financial for Lutherans decreased its position in shares of Molson Coors Beverage (NYSE:TAP) by 27.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 19,247 shares of the company’s stock after selling 7,430 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Molson Coors Beverage were worth $1,108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TAP. Farther Finance Advisors LLC grew its holdings in Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after acquiring an additional 182 shares in the last quarter. Perpetual Ltd boosted its stake in shares of Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after purchasing an additional 197 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in Molson Coors Beverage by 1.8% during the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after buying an additional 274 shares during the period. Private Advisor Group LLC raised its stake in Molson Coors Beverage by 0.9% in the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock worth $1,845,000 after buying an additional 277 shares in the last quarter. Finally, Focus Financial Network Inc. lifted its holdings in Molson Coors Beverage by 7.0% during the third quarter. Focus Financial Network Inc. now owns 4,276 shares of the company’s stock worth $246,000 after buying an additional 280 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Piper Sandler increased their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays boosted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.00.

Molson Coors Beverage Stock Up 1.3 %

Molson Coors Beverage stock opened at $62.06 on Monday. The business’s 50-day moving average price is $57.43 and its 200 day moving average price is $54.55. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.78 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 2.40 and a beta of 0.82. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company earned $1.92 EPS. The business’s revenue was down 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.44 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 2.84%. Molson Coors Beverage’s dividend payout ratio is presently 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.