LGT Group Foundation lessened its holdings in shares of Molson Coors Beverage (NYSE:TAP – Free Report) by 4.8% in the second quarter, Holdings Channel.com reports. The fund owned 20,975 shares of the company’s stock after selling 1,061 shares during the quarter. LGT Group Foundation’s holdings in Molson Coors Beverage were worth $1,066,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of TAP. Family Firm Inc. bought a new position in shares of Molson Coors Beverage in the 2nd quarter worth $26,000. Raleigh Capital Management Inc. increased its stake in shares of Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after acquiring an additional 501 shares during the last quarter. GPS Wealth Strategies Group LLC increased its stake in shares of Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after acquiring an additional 294 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Molson Coors Beverage in the 4th quarter valued at approximately $36,000. Finally, Quarry LP boosted its stake in Molson Coors Beverage by 69.3% during the 4th quarter. Quarry LP now owns 657 shares of the company’s stock worth $40,000 after acquiring an additional 269 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.
Molson Coors Beverage Stock Up 0.3 %
Shares of TAP stock opened at $55.94 on Tuesday. The firm’s fifty day moving average price is $52.97 and its two-hundred day moving average price is $57.35. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $11.59 billion, a P/E ratio of 11.19, a PEG ratio of 2.41 and a beta of 0.81.
Molson Coors Beverage Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.15%. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.
Analyst Upgrades and Downgrades
TAP has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Citigroup decreased their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Bank of America cut their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Jefferies Financial Group lowered their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.53.
View Our Latest Research Report on Molson Coors Beverage
About Molson Coors Beverage
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.
Featured Articles
- Five stocks we like better than Molson Coors Beverage
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- Top 3 Small-Cap Stocks Insiders Are Buying Right Now
- Investing In Automotive Stocks
- 3 Stocks That Make Good Short-Squeeze Candidates
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- Why Block’s Key Components Make It a Solid Investment Choice
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.