Molson Coors Beverage (NYSE:TAP) Shares Purchased by CHICAGO TRUST Co NA

CHICAGO TRUST Co NA increased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 18.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,947 shares of the company’s stock after acquiring an additional 615 shares during the period. CHICAGO TRUST Co NA’s holdings in Molson Coors Beverage were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Capital International Investors boosted its stake in shares of Molson Coors Beverage by 10.7% in the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after acquiring an additional 939,142 shares during the last quarter. Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter worth approximately $127,337,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,638,115 shares of the company’s stock worth $100,269,000 after acquiring an additional 25,575 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Molson Coors Beverage by 12.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,396,489 shares of the company’s stock worth $85,479,000 after buying an additional 153,968 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in Molson Coors Beverage by 0.9% during the fourth quarter. Schroder Investment Management Group now owns 1,254,963 shares of the company’s stock worth $76,816,000 after buying an additional 11,514 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Evercore ISI reduced their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. UBS Group lifted their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday. TD Cowen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating and reduced their target price for the company from $68.00 to $58.00 in a research report on Wednesday. Finally, Citigroup reduced their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $60.53.

Molson Coors Beverage Trading Up 0.2 %

Molson Coors Beverage stock traded up $0.12 during midday trading on Friday, reaching $52.98. The stock had a trading volume of 1,474,603 shares, compared to its average volume of 1,965,625. The stock’s 50-day simple moving average is $51.76 and its 200 day simple moving average is $58.56. The stock has a market capitalization of $11.22 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. Analysts expect that Molson Coors Beverage will post 5.56 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, August 30th. Molson Coors Beverage’s payout ratio is 35.20%.

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.