LGT Group Foundation Has $1.07 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

LGT Group Foundation reduced its stake in shares of Molson Coors Beverage (NYSE:TAP) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 hedge funds have also recently bought and sold shares of TAP. Czech National Bank lifted its stake in shares of Molson Coors Beverage by 0.5% in the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after buying an additional 149 shares during the period. Kentucky Retirement Systems grew its holdings in shares of Molson Coors Beverage by 1.5% during the 4th quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock worth $907,000 after purchasing an additional 221 shares in the last quarter. Empirical Finance LLC increased its position in shares of Molson Coors Beverage by 3.5% during the first quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock valued at $455,000 after purchasing an additional 226 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Molson Coors Beverage by 1.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock valued at $1,000,000 after purchasing an additional 231 shares in the last quarter. Finally, Affinity Investment Advisors LLC lifted its position in Molson Coors Beverage by 2.9% in the first quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock worth $579,000 after purchasing an additional 246 shares during the period. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Up 0.3 %

Shares of NYSE TAP opened at $55.94 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.59 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 2.41 and a beta of 0.81. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The firm’s 50-day simple moving average is $52.97 and its 200 day simple moving average is $57.35.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. Molson Coors Beverage’s revenue was down .4% compared to the same quarter last year. On average, research analysts expect that Molson Coors Beverage will post 5.75 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.15%. Molson Coors Beverage’s payout ratio is currently 35.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TAP shares. Citigroup lowered their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. UBS Group increased their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company increased their target price on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $60.53.

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.