BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 310,636 Shares of Molson Coors Beverage (NYSE:TAP)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in Molson Coors Beverage (NYSE:TAP) by 51.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 298,626 shares of the company’s stock after selling 310,636 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Molson Coors Beverage were worth $17,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Family Firm Inc. bought a new stake in Molson Coors Beverage in the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd bought a new stake in Molson Coors Beverage in the second quarter worth $27,000. GPS Wealth Strategies Group LLC raised its stake in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage during the third quarter valued at $35,000. Finally, Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage in the 3rd quarter worth $42,000. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TAP shares. UBS Group upped their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Piper Sandler boosted their price objective 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. Finally, Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.31.

Molson Coors Beverage Stock Down 0.2 %

Shares of NYSE:TAP opened at $60.36 on Friday. 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 $56.84 and its 200 day moving average is $54.45. The stock has a market cap of $12.43 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

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

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.44 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 2.92%. Molson Coors Beverage’s payout ratio is presently 39.64%.

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.