State of Tennessee Treasury Department Has $18.12 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

State of Tennessee Treasury Department grew its position in shares of Molson Coors Beverage (NYSE:TAPFree Report) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 296,036 shares of the company’s stock after purchasing an additional 7,634 shares during the period. State of Tennessee Treasury Department’s holdings in Molson Coors Beverage were worth $18,120,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its stake in shares of Molson Coors Beverage by 26.1% in the third quarter. Janney Montgomery Scott LLC now owns 29,827 shares of the company’s stock worth $1,897,000 after acquiring an additional 6,179 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Molson Coors Beverage by 9.6% in the third quarter. D.A. Davidson & CO. now owns 13,609 shares of the company’s stock worth $865,000 after acquiring an additional 1,189 shares during the period. Van ECK Associates Corp lifted its stake in shares of Molson Coors Beverage by 9.6% in the third quarter. Van ECK Associates Corp now owns 8,741 shares of the company’s stock worth $556,000 after acquiring an additional 764 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Molson Coors Beverage by 10.6% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 7,886 shares of the company’s stock worth $501,000 after acquiring an additional 757 shares during the period. Finally, Pathstone Family Office LLC lifted its stake in shares of Molson Coors Beverage by 11.9% in the third quarter. Pathstone Family Office LLC now owns 21,506 shares of the company’s stock worth $1,368,000 after acquiring an additional 2,282 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $51.90 on Tuesday. The stock’s 50-day simple moving average is $59.75 and its 200 day simple moving average is $61.78. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. Molson Coors Beverage has a 52-week low of $51.60 and a 52-week high of $70.90.

Molson Coors Beverage (NYSE:TAPGet Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. Research analysts forecast that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, June 7th. This represents a $1.76 annualized dividend and a dividend yield of 3.39%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TAP shares. Deutsche Bank Aktiengesellschaft boosted their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Evercore ISI dropped their price target on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler initiated coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target on the stock. Finally, UBS Group decreased their price objective on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.07.

Read Our Latest Stock 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, spirits and energy, and ready to drink beverages.

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

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