Molson Coors Beverage (NYSE:TAP) Shares Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP increased its holdings in shares of Molson Coors Beverage (NYSE:TAPGet Rating) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,371,970 shares of the company’s stock after purchasing an additional 74,119 shares during the quarter. Artemis Investment Management LLP owned approximately 0.63% of Molson Coors Beverage worth $73,068,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TAP. State Street Corp lifted its stake in Molson Coors Beverage by 2.8% in the fourth quarter. State Street Corp now owns 8,583,990 shares of the company’s stock valued at $397,868,000 after buying an additional 236,326 shares during the last quarter. LSV Asset Management boosted its stake in shares of Molson Coors Beverage by 9.4% during the fourth quarter. LSV Asset Management now owns 7,587,441 shares of the company’s stock valued at $351,678,000 after acquiring an additional 652,709 shares during the last quarter. Clarkston Capital Partners LLC boosted its stake in shares of Molson Coors Beverage by 1.1% during the fourth quarter. Clarkston Capital Partners LLC now owns 6,322,179 shares of the company’s stock valued at $293,033,000 after acquiring an additional 70,585 shares during the last quarter. Capital International Investors lifted its position in Molson Coors Beverage by 3.7% during the fourth quarter. Capital International Investors now owns 4,672,040 shares of the company’s stock worth $216,549,000 after buying an additional 167,200 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Molson Coors Beverage by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 3,771,747 shares of the company’s stock worth $174,393,000 after purchasing an additional 220,482 shares during the period. Hedge funds and other institutional investors own 79.62% of the company’s stock.

TAP stock opened at $55.62 on Friday. The business’s fifty day moving average is $53.75 and its 200-day moving average is $51.48. The company has a quick ratio of 0.54, a current ratio of 0.81 and a debt-to-equity ratio of 0.48. The company has a market cap of $12.06 billion, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 2.94 and a beta of 0.85. Molson Coors Beverage has a twelve month low of $42.46 and a twelve month high of $57.75.

Molson Coors Beverage (NYSE:TAPGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.11. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.14 billion. Molson Coors Beverage had a return on equity of 7.12% and a net margin of 8.36%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 EPS. Research analysts anticipate that Molson Coors Beverage will post 4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Friday, June 3rd were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Thursday, June 2nd. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 30.77%.

TAP has been the subject of a number of recent analyst reports. UBS Group lowered Molson Coors Beverage from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $54.00 in a research note on Tuesday, June 21st. Sanford C. Bernstein cut Molson Coors Beverage from an “outperform” rating to a “market perform” rating and set a $59.00 target price on the stock. in a report on Tuesday, May 17th. StockNews.com initiated coverage on Molson Coors Beverage in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $49.00 to $51.00 in a report on Wednesday, April 27th. Finally, Citigroup lifted their price objective on Molson Coors Beverage from $58.00 to $61.00 in a research report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $54.00.

Molson Coors Beverage Profile (Get Rating)

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

Further Reading

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

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