Molson Coors Beverage (NYSE:TAP) Holdings Lifted by Hancock Whitney Corp

Hancock Whitney Corp raised its holdings in Molson Coors Beverage (NYSE:TAP) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,359 shares of the company’s stock after acquiring an additional 992 shares during the quarter. Hancock Whitney Corp’s holdings in Molson Coors Beverage were worth $883,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 66.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after purchasing an additional 2,155,842 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Molson Coors Beverage in the third quarter valued at $48,202,000. Millennium Management LLC lifted its position in shares of Molson Coors Beverage by 541.4% during the 2nd quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock valued at $38,893,000 after acquiring an additional 645,847 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Molson Coors Beverage by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after acquiring an additional 434,685 shares in the last quarter. Finally, Randolph Co Inc acquired a new position in shares of Molson Coors Beverage in the 3rd quarter worth $21,754,000. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the subject of several analyst reports. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $74.00 in a report on Friday, November 8th. UBS Group raised their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler upped their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, TD Cowen cut their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $60.57.

Molson Coors Beverage Trading Up 1.2 %

Shares of TAP stock opened at $61.41 on Wednesday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a market cap of $12.65 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82. 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 business’s 50 day moving average is $56.94 and its two-hundred day moving average is $54.44.

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

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 2.87%. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

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.