WINTON GROUP Ltd Makes New $345,000 Investment in Molson Coors Beverage (NYSE:TAP)

WINTON GROUP Ltd purchased a new position in Molson Coors Beverage (NYSE:TAPGet Rating) during the 2nd quarter, Holdings Channel reports. The fund purchased 6,329 shares of the company’s stock, valued at approximately $345,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at $127,000. Sustainable Insight Capital Management LLC bought a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at $262,000. Resources Investment Advisors LLC. bought a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at $647,000. AdvisorShares Investments LLC raised its position in shares of Molson Coors Beverage by 127.1% during the 2nd quarter. AdvisorShares Investments LLC now owns 7,196 shares of the company’s stock valued at $392,000 after purchasing an additional 4,028 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of Molson Coors Beverage by 12.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 8,444 shares of the company’s stock valued at $461,000 after purchasing an additional 950 shares during the period. 79.22% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $53.50 on Friday. Molson Coors Beverage has a 52 week low of $42.60 and a 52 week high of $60.12. The stock has a market capitalization of $11.58 billion, a P/E ratio of 23.46, a PEG ratio of 3.51 and a beta of 0.84. The firm has a fifty day simple moving average of $49.78 and a two-hundred day simple moving average of $52.99. The company has a quick ratio of 0.52, a current ratio of 0.77 and a debt-to-equity ratio of 0.45.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, December 2nd will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, December 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.84%. Molson Coors Beverage’s dividend payout ratio is presently 66.67%.

Analyst Upgrades and Downgrades

TAP has been the topic of several recent analyst reports. TheStreet downgraded shares of Molson Coors Beverage from a “b” rating to a “c+” rating in a research report on Thursday, August 4th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Molson Coors Beverage from $54.00 to $52.00 in a report on Wednesday, August 3rd. Bryan, Garnier & Co downgraded shares of Molson Coors Beverage from a “buy” rating to a “sell” rating and set a $54.00 price target on the stock. in a report on Thursday, September 1st. Finally, UBS Group lifted their price target on shares of Molson Coors Beverage from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $53.70.

About Molson Coors Beverage

(Get Rating)

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

Further Reading

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage (NYSE:TAPGet Rating).

Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.