Liontrust Investment Partners LLP Invests $32.39 Million in Molson Coors Beverage (NYSE:TAP)

Liontrust Investment Partners LLP purchased a new stake in Molson Coors Beverage (NYSE:TAP) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 626,754 shares of the company’s stock, valued at approximately $32,391,000. Liontrust Investment Partners LLP owned approximately 0.29% of Molson Coors Beverage at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 25.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company’s stock worth $1,242,000 after acquiring an additional 4,792 shares during the period. American Century Companies Inc. increased its holdings in shares of Molson Coors Beverage by 17.1% during the 1st quarter. American Century Companies Inc. now owns 18,462 shares of the company’s stock worth $985,000 after buying an additional 2,700 shares during the last quarter. US Bancorp DE raised its position in shares of Molson Coors Beverage by 45.7% during the 1st quarter. US Bancorp DE now owns 3,834 shares of the company’s stock valued at $205,000 after buying an additional 1,203 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Molson Coors Beverage by 4.5% in the first quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company’s stock valued at $889,000 after acquiring an additional 720 shares during the last quarter. Finally, Natixis Advisors L.P. increased its position in shares of Molson Coors Beverage by 26.3% during the 1st quarter. Natixis Advisors L.P. now owns 14,411 shares of the company’s stock worth $769,000 after purchasing an additional 3,001 shares during the last quarter. Institutional investors and hedge funds own 73.95% of the company’s stock.

Molson Coors Beverage Stock Up 0.9 %

NYSE TAP traded up $0.57 during mid-day trading on Friday, reaching $63.64. 876,207 shares of the company’s stock traded hands, compared to its average volume of 1,324,204. The company has a fifty day simple moving average of $65.47 and a 200-day simple moving average of $61.10. Molson Coors Beverage has a 1-year low of $46.69 and a 1-year high of $70.90. The company has a market cap of $13.76 billion, a price-to-earnings ratio of 397.75, a P/E/G ratio of 1.71 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.64 and a debt-to-equity ratio of 0.47.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.15. Molson Coors Beverage had a return on equity of 8.17% and a net margin of 0.31%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.31 billion. As a group, equities research analysts expect that Molson Coors Beverage will post 5.07 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.41 dividend. The ex-dividend date is Thursday, August 31st. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. Molson Coors Beverage’s dividend payout ratio is presently 1,025.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on Molson Coors Beverage from $74.00 to $75.00 in a report on Tuesday, June 6th. StockNews.com started coverage on shares of Molson Coors Beverage in a report on Thursday, August 17th. They issued a “hold” rating for the company. 58.com reiterated a “maintains” rating on shares of Molson Coors Beverage in a research note on Monday, June 26th. The Goldman Sachs Group lifted their target price on Molson Coors Beverage from $61.00 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. Finally, Bank of America raised Molson Coors Beverage from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $54.00 to $68.00 in a research report on Tuesday, June 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and an average target price of $62.40.

Molson Coors Beverage 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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.