Transamerica Financial Advisors Inc. Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Transamerica Financial Advisors Inc. acquired a new position in shares of Molson Coors Beverage (NYSE:TAP) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 1,324 shares of the company’s stock, valued at approximately $77,000.

Other large investors also recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in Molson Coors Beverage during the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new stake in Molson Coors Beverage during the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $35,000. GPS Wealth Strategies Group LLC increased its stake in Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after buying an additional 294 shares in the last quarter. Finally, Gladius Capital Management LP purchased a new stake in shares of Molson Coors Beverage in the third quarter valued at approximately $42,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 0.3 %

NYSE:TAP opened at $61.23 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average is $57.05 and its two-hundred day moving average is $54.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 2.35 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. The firm’s revenue was down 7.8% compared to the same quarter last year. Research analysts anticipate that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. TD Cowen dropped their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday. They issued a “neutral” rating and a $64.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $60.57.

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.