Molson Coors Beverage (NYSE:TAP) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 96,241 shares of the company’s stock after buying an additional 1,741 shares during the quarter. Toronto Dominion Bank’s holdings in Molson Coors Beverage were worth $5,517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truvestments Capital LLC boosted its position in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after acquiring an additional 643 shares in the last quarter. Quarry LP boosted its position in shares of Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after acquiring an additional 254 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in shares of Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on TAP shares. JPMorgan Chase & Co. lowered their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. UBS Group decreased their target price on Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Needham & Company LLC decreased their target price on Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Finally, Berenberg Bank started coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 target price for the company. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.71.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the sale, the director now directly owns 27,595 shares of the company’s stock, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.71% of the stock is owned by insiders.

Molson Coors Beverage Stock Down 2.2%

Molson Coors Beverage stock opened at $55.71 on Thursday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $64.66. The stock has a 50 day moving average of $58.44 and a two-hundred day moving average of $58.43. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $11.26 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.52 and a beta of 0.73.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The firm’s revenue was down 11.3% compared to the same quarter last year. As a group, research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.37%. Molson Coors Beverage’s payout ratio is 37.83%.

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.