Molson Coors Beverage (NYSE:TAP) Stock Holdings Lifted by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise raised its position in Molson Coors Beverage (NYSE:TAPFree Report) by 84.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,065 shares of the company’s stock after acquiring an additional 5,523 shares during the period. Banque Cantonale Vaudoise’s holdings in Molson Coors Beverage were worth $767,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 25.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company’s stock worth $1,242,000 after buying an additional 4,792 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Molson Coors Beverage by 17.1% in 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 in the last quarter. US Bancorp DE grew its position in Molson Coors Beverage by 45.7% during the 1st quarter. US Bancorp DE now owns 3,834 shares of the company’s stock worth $205,000 after acquiring an additional 1,203 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Molson Coors Beverage by 4.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company’s stock worth $889,000 after acquiring an additional 720 shares during the last quarter. Finally, Natixis Advisors L.P. grew its position in 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 acquiring 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 Performance

TAP stock opened at $61.29 on Wednesday. The business’s 50-day moving average price is $62.20 and its two-hundred day moving average price is $62.08. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The firm has a market cap of $13.22 billion, a PE ratio of 53.30, a P/E/G ratio of 1.13 and a beta of 0.82. Molson Coors Beverage has a 1-year low of $49.32 and a 1-year high of $70.90.

Molson Coors Beverage Dividend Announcement

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

Analyst Upgrades and Downgrades

TAP has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on Molson Coors Beverage in a research report on Monday, November 13th. They set a “hold” rating and a $62.00 price target on the stock. TheStreet lowered Molson Coors Beverage from a “b-” rating to a “c” rating in a research report on Monday, October 23rd. Wedbush restated a “neutral” rating and set a $70.00 price target on shares of Molson Coors Beverage in a research report on Monday, November 6th. HSBC initiated coverage on Molson Coors Beverage in a research report on Thursday, November 30th. They issued a “hold” rating and a $68.00 price objective on the stock. Finally, StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $66.27.

Get Our Latest Research Report on Molson Coors Beverage

About Molson Coors Beverage

(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

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

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