JB Capital LLC Raises Holdings in Molson Coors Beverage (NYSE:TAP)

JB Capital LLC boosted its stake in Molson Coors Beverage (NYSE:TAP) by 29.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,401 shares of the company’s stock after purchasing an additional 1,450 shares during the period. JB Capital LLC’s holdings in Molson Coors Beverage were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its holdings in Molson Coors Beverage by 6,418.1% during the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after buying an additional 149,093 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at about $29,000. Louisiana State Employees Retirement System bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $686,000. Daiwa Securities Group Inc. raised its holdings in shares of Molson Coors Beverage by 17.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 19,529 shares of the company’s stock valued at $1,195,000 after acquiring an additional 2,971 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Molson Coors Beverage by 3.2% in the fourth quarter. Federated Hermes Inc. now owns 105,730 shares of the company’s stock worth $6,472,000 after acquiring an additional 3,297 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. UBS Group lifted their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Evercore ISI decreased their target price on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Bank of America lowered their target price on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, TD Cowen cut Molson Coors Beverage from a “buy” rating to a “hold” rating and reduced their price target for the stock from $68.00 to $58.00 in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.53.

Molson Coors Beverage Stock Up 0.6 %

Shares of NYSE:TAP traded up $0.30 during trading on Friday, reaching $53.83. 693,991 shares of the stock traded hands, compared to its average volume of 1,930,319. The stock has a market cap of $11.41 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 2.26 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. The stock has a 50-day moving average of $52.07 and a two-hundred day moving average of $57.93. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the business posted $1.78 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side analysts expect that Molson Coors Beverage will post 5.56 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Molson Coors Beverage 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.