Healthcare of Ontario Pension Plan Trust Fund Sells 15,007 Shares of Molson Coors Beverage (NYSE:TAP)

Posted by on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in shares of Molson Coors Beverage (NYSE:TAP – Get Rating) by 69.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,525 shares of the company’s stock after selling 15,007 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Molson Coors Beverage were worth $313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trustcore Financial Services LLC bought a new position in shares of Molson Coors Beverage during the 3rd quarter worth approximately $29,000. Dark Forest Capital Management LP bought a new stake in Molson Coors Beverage in the 2nd quarter valued at $31,000. Jones Financial Companies Lllp boosted its stake in Molson Coors Beverage by 529.5% in the 2nd quarter. Jones Financial Companies Lllp now owns 661 shares of the company’s stock valued at $36,000 after purchasing an additional 556 shares during the period. Lazard Asset Management LLC boosted its stake in Molson Coors Beverage by 96.4% in the 1st quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock valued at $40,000 after purchasing an additional 373 shares during the period. Finally, Eagle Bay Advisors LLC bought a new stake in Molson Coors Beverage in the 2nd quarter valued at $50,000. 76.24% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP opened at $53.05 on Thursday. Molson Coors Beverage has a 12-month low of $46.69 and a 12-month high of $60.12. The business has a 50-day simple moving average of $51.73 and a two-hundred day simple moving average of $51.65. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 0.48. The stock has a market cap of $11.49 billion, a PE ratio of -64.70, a PEG ratio of 3.36 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP – Get Rating) last issued its earnings results on Tuesday, February 21st. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.24. Molson Coors Beverage had a positive return on equity of 6.65% and a negative net margin of 1.37%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Analysts anticipate that Molson Coors Beverage will post 4.12 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, March 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Thursday, March 2nd. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.38. Molson Coors Beverage’s dividend payout ratio is presently -200.00%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Cowen upgraded Molson Coors Beverage from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $60.00 in a research note on Friday, January 6th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, November 19th. Wells Fargo & Company boosted their price target on Molson Coors Beverage from $45.00 to $48.00 and gave the company an “underweight” rating in a research note on Wednesday, February 22nd. Cowen raised Molson Coors Beverage from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $55.00 to $60.00 in a report on Friday, January 6th. Finally, TheStreet cut Molson Coors Beverage from a “b” rating to a “c+” rating in a report on Tuesday, February 21st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $54.09.

Molson Coors Beverage Profile

(Get Rating)

Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.

Featured Stories

Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.