Great Lakes Advisors LLC Raises Holdings in Molson Coors Beverage (NYSE:TAP)

Great Lakes Advisors LLC increased its stake in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 9,598 shares of the company’s stock after purchasing an additional 505 shares during the quarter. Great Lakes Advisors LLC’s holdings in Molson Coors Beverage were worth $610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quarry LP purchased a new stake in Molson Coors Beverage in the 2nd quarter worth approximately $25,000. Private Trust Co. NA lifted its holdings in Molson Coors Beverage by 125.4% in the 2nd quarter. Private Trust Co. NA now owns 444 shares of the company’s stock worth $29,000 after buying an additional 247 shares during the period. Salem Investment Counselors Inc. purchased a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $32,000. Steward Partners Investment Advisory LLC lifted its holdings in Molson Coors Beverage by 85.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock worth $33,000 after buying an additional 300 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in Molson Coors Beverage in the 2nd quarter worth approximately $44,000. 73.95% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Up 0.0 %

Molson Coors Beverage stock opened at $61.29 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.73 and a quick ratio of 0.53. The firm’s 50 day moving average price is $62.20 and its 200-day moving average price is $62.08. Molson Coors Beverage has a 1 year low of $49.32 and a 1 year high of $70.90. The stock has a market cap of $13.22 billion, a P/E ratio of 53.30, a PEG ratio of 1.15 and a beta of 0.82.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Thursday, November 30th. Molson Coors Beverage’s payout ratio is presently 142.61%.

Analyst Upgrades and Downgrades

TAP has been the subject of several research analyst reports. Wedbush reiterated a “neutral” rating and issued a $70.00 price objective on shares of Molson Coors Beverage in a report on Monday, November 6th. HSBC began coverage on Molson Coors Beverage in a research report on Thursday, November 30th. They set a “hold” rating and a $68.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded Molson Coors Beverage from a “sell” rating to a “hold” rating and increased their price objective for the stock from $57.00 to $58.00 in a report on Friday, November 3rd. TheStreet lowered Molson Coors Beverage from a “b-” rating to a “c” rating in a research report on Monday, October 23rd. Finally, Citigroup reduced their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a “neutral” rating for the company in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $66.27.

View Our Latest Report on TAP

Molson Coors Beverage Profile

(Free Report)

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.

Further Reading

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

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