Wakefield Asset Management LLLP raised its holdings in Molson Coors Beverage (NYSE:TAP – Free Report) by 124.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,286 shares of the company’s stock after acquiring an additional 29,552 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Molson Coors Beverage were worth $2,709,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its stake in shares of Molson Coors Beverage by 0.9% in the 2nd quarter. Private Advisor Group LLC now owns 31,803 shares of the company’s stock valued at $1,617,000 after purchasing an additional 295 shares during the last quarter. Fluent Financial LLC lifted its position in shares of Molson Coors Beverage by 28.2% in the second quarter. Fluent Financial LLC now owns 89,528 shares of the company’s stock worth $4,551,000 after buying an additional 19,669 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Molson Coors Beverage by 3.2% in the second quarter. National Bank of Canada FI now owns 243,402 shares of the company’s stock worth $12,315,000 after buying an additional 7,580 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Molson Coors Beverage during the 2nd quarter worth about $364,000. Finally, TD Asset Management Inc increased its holdings in shares of Molson Coors Beverage by 8.0% during the 2nd quarter. TD Asset Management Inc now owns 53,346 shares of the company’s stock valued at $2,712,000 after acquiring an additional 3,936 shares during the last quarter. 78.46% of the stock is owned by institutional investors.
Molson Coors Beverage Trading Down 0.1 %
Shares of TAP opened at $55.77 on Friday. The stock’s 50-day moving average price is $52.87 and its 200 day moving average price is $57.47. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 2.34 and a beta of 0.81.
Molson Coors Beverage Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s payout ratio is 35.20%.
Analyst Ratings Changes
TAP has been the subject of several analyst reports. TD Cowen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating and reduced their target price for the stock from $68.00 to $58.00 in a report on Wednesday, August 7th. Wells Fargo & Company upped their price objective on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Jefferies Financial Group lowered their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. Citigroup cut their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Finally, Barclays raised their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $60.53.
Check Out Our Latest Report on Molson Coors Beverage
Molson Coors Beverage Company 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, spirits and energy, and ready to drink beverages.
See Also
- Five stocks we like better than Molson Coors Beverage
- Technology Stocks Explained: Here’s What to Know About Tech
- Is Merck Stock Undervalued After Its Colossal Earnings Growth?
- What Is WallStreetBets and What Stocks Are They Targeting?
- Top 5 ETFs for Every Investor: From Semiconductors to Defense
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Blade Air Mobility: This Under-the-Radar Stock Could Double Soon
Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage (NYSE:TAP – Free Report).
Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.