Janney Montgomery Scott LLC Buys 15,223 Shares of Molson Coors Beverage (NYSE:TAP)

Janney Montgomery Scott LLC grew its stake in Molson Coors Beverage (NYSE:TAPGet Rating) by 146.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,589 shares of the company’s stock after acquiring an additional 15,223 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Molson Coors Beverage were worth $1,228,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TAP. Vanguard Group Inc. boosted its holdings in Molson Coors Beverage by 6.1% in the first quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock worth $1,138,589,000 after acquiring an additional 1,235,013 shares in the last quarter. Amundi boosted its holdings in Molson Coors Beverage by 139.0% in the second quarter. Amundi now owns 1,401,574 shares of the company’s stock worth $78,404,000 after acquiring an additional 815,188 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Molson Coors Beverage by 75.9% in the second quarter. AQR Capital Management LLC now owns 1,604,856 shares of the company’s stock worth $87,481,000 after acquiring an additional 692,661 shares in the last quarter. River Road Asset Management LLC boosted its holdings in Molson Coors Beverage by 42.2% in the second quarter. River Road Asset Management LLC now owns 1,709,836 shares of the company’s stock worth $93,203,000 after acquiring an additional 507,296 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Molson Coors Beverage by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,216,836 shares of the company’s stock worth $171,722,000 after acquiring an additional 312,326 shares in the last quarter. 76.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TAP shares. Wells Fargo & Company cut Molson Coors Beverage from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $52.00 to $45.00 in a research note on Tuesday, January 3rd. Credit Suisse Group decreased their price target on Molson Coors Beverage from $49.00 to $48.00 and set an “underperform” rating for the company in a research note on Thursday, October 27th. Cowen upgraded Molson Coors Beverage from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $60.00 in a research note on Friday, January 6th. Deutsche Bank Aktiengesellschaft cut Molson Coors Beverage from a “hold” rating to a “sell” rating and set a $50.00 price objective for the company. in a research report on Tuesday, December 6th. Finally, Cowen upgraded Molson Coors Beverage from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $60.00 in a research report on Friday, January 6th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.00.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $50.38 on Wednesday. The stock has a 50 day moving average of $52.34 and a 200 day moving average of $52.61. Molson Coors Beverage has a 12 month low of $46.69 and a 12 month high of $60.12. The firm has a market cap of $10.91 billion, a PE ratio of 22.10, a PEG ratio of 3.17 and a beta of 0.86. The company has a current ratio of 0.77, a quick ratio of 0.52 and a debt-to-equity ratio of 0.45.

Molson Coors Beverage (NYSE:TAPGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.36 by ($0.04). Molson Coors Beverage had a net margin of 3.85% and a return on equity of 5.78%. The firm had revenue of $2.94 billion for the quarter, compared to the consensus estimate of $2.86 billion. On average, research analysts expect that Molson Coors Beverage will post 3.86 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Thursday, December 1st. Molson Coors Beverage’s dividend payout ratio is currently 66.67%.

About Molson Coors Beverage

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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. 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.

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

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