Commerzbank Aktiengesellschaft FI Acquires New Position in Molson Coors Beverage (NYSE:TAP)

Commerzbank Aktiengesellschaft FI acquired a new position in shares of Molson Coors Beverage (NYSE:TAP) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 14,365 shares of the company’s stock, valued at approximately $731,000.

A number of other large investors have also recently made changes to their positions in the stock. Tennessee Valley Asset Management Partners acquired a new stake in Molson Coors Beverage during the fourth quarter worth about $29,000. Montag A & Associates Inc. acquired a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $31,000. Raleigh Capital Management Inc. increased its position in shares of Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 501 shares in the last quarter. GPS Wealth Strategies Group LLC grew its stake in 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 period. Finally, Transcendent Capital Group LLC purchased a new stake in Molson Coors Beverage in the 4th quarter worth $36,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TAP shares. Evercore ISI lowered their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Barclays boosted their price target on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft increased their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, TD Cowen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and dropped their price objective for the company from $68.00 to $58.00 in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $60.53.

Molson Coors Beverage Price Performance

TAP traded down $0.48 on Wednesday, hitting $53.25. 1,288,884 shares of the company were exchanged, compared to its average volume of 1,940,561. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. 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 firm has a market capitalization of $11.28 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81. The business’s fifty day moving average is $51.88 and its 200 day moving average is $58.04.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 6th. The company reported $1.92 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 company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the business earned $1.78 earnings per share. Molson Coors Beverage’s quarterly revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.56 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.31%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 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.