Transamerica Financial Advisors Inc. Invests $77,000 in Molson Coors Beverage (NYSE:TAP)

Transamerica Financial Advisors Inc. acquired a new position in Molson Coors Beverage (NYSE:TAP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,324 shares of the company’s stock, valued at approximately $77,000.

Other institutional investors have also recently made changes to their positions in the company. iA Global Asset Management Inc. boosted its position in shares of Molson Coors Beverage by 117.5% in the 1st quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after purchasing an additional 17,062 shares in the last quarter. Wakefield Asset Management LLLP boosted its position in shares of Molson Coors Beverage by 124.5% in the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock worth $2,709,000 after purchasing an additional 29,552 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Molson Coors Beverage in the 2nd quarter worth $3,842,000. Wedge Capital Management L L P NC boosted its position in shares of Molson Coors Beverage by 4.1% in the 2nd quarter. Wedge Capital Management L L P NC now owns 689,027 shares of the company’s stock worth $35,023,000 after purchasing an additional 27,203 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Molson Coors Beverage by 22.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock worth $20,673,000 after purchasing an additional 56,584 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock 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. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The business has a 50-day moving average price of $57.05 and a 200 day moving average price of $54.46. The firm has a market cap of $12.61 billion, a PE ratio of 13.79, a P/E/G ratio of 2.35 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the business earned $1.92 EPS. Molson Coors Beverage’s revenue for the quarter was down 7.8% compared to the same quarter last year. Sell-side analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.44 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TAP. UBS Group lifted their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays lifted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Finally, TD Cowen lowered 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $60.57.

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.