206,600 Shares in Molson Coors Beverage (NYSE:TAP) Purchased by Railway Pension Investments Ltd

Railway Pension Investments Ltd acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 206,600 shares of the company’s stock, valued at approximately $10,501,000. Railway Pension Investments Ltd owned approximately 0.10% of Molson Coors Beverage at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TAP. Family Firm Inc. purchased a new position in shares of Molson Coors Beverage during the second quarter valued at $26,000. Montag A & Associates Inc. purchased a new position in Molson Coors Beverage during the 4th quarter valued at about $31,000. Raleigh Capital Management Inc. increased its holdings 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 purchasing an additional 501 shares during the period. GPS Wealth Strategies Group LLC lifted its position in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after purchasing an additional 294 shares in the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Molson Coors Beverage during the fourth quarter worth approximately $36,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore ISI cut their target price on shares of 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. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Wells Fargo & Company lifted their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Piper Sandler upped their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Citigroup cut their price target 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. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.53.

Molson Coors Beverage Stock Performance

TAP stock traded down $0.26 during midday trading on Tuesday, hitting $53.62. 128,541 shares of the company traded hands, compared to its average volume of 1,913,877. The business has a 50 day simple moving average of $52.15 and a 200-day simple moving average of $57.85. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81.

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

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.28%. 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.