UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $68.02 Million Position in Molson Coors Beverage (NYSE:TAP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Molson Coors Beverage (NYSE:TAP) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,182,509 shares of the company’s stock after selling 36,665 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.57% of Molson Coors Beverage worth $68,018,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Cetera Investment Advisers boosted its holdings in Molson Coors Beverage by 613.8% in the first quarter. Cetera Investment Advisers now owns 44,954 shares of the company’s stock worth $3,023,000 after purchasing an additional 38,656 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of Molson Coors Beverage during the 1st quarter valued at about $1,670,000. DNB Asset Management AS raised its stake in shares of Molson Coors Beverage by 6.2% in the 2nd quarter. DNB Asset Management AS now owns 37,499 shares of the company’s stock valued at $1,906,000 after acquiring an additional 2,201 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Molson Coors Beverage by 136.0% in the 2nd quarter. Park Avenue Securities LLC now owns 13,430 shares of the company’s stock valued at $683,000 after acquiring an additional 7,739 shares in the last quarter. Finally, CWM LLC lifted its holdings in Molson Coors Beverage by 99.2% in the 2nd quarter. CWM LLC now owns 11,198 shares of the company’s stock worth $569,000 after purchasing an additional 5,576 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.5 %

Shares of TAP stock opened at $61.75 on Tuesday. The firm has a fifty day moving average of $57.43 and a 200-day moving average of $54.53. The stock has a market cap of $12.72 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 2.40 and a beta of 0.82. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 earnings per share. On average, equities research analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 2.85%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Ratings Changes

Several equities analysts have commented on TAP shares. TD Cowen lowered their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Piper Sandler upped their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, BNP Paribas started coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $60.00.

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.