Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Molson Coors Beverage (NYSE:TAP)

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in Molson Coors Beverage (NYSE:TAP) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,000 shares of the company’s stock after selling 2,850 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Molson Coors Beverage were worth $17,161,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. JJJ Advisors Inc. raised its stake in Molson Coors Beverage by 69.3% during the third quarter. JJJ Advisors Inc. now owns 611 shares of the company’s stock worth $28,000 after purchasing an additional 250 shares during the period. TCI Wealth Advisors Inc. raised its stake in Molson Coors Beverage by 69.5% during the third quarter. TCI Wealth Advisors Inc. now owns 651 shares of the company’s stock worth $30,000 after purchasing an additional 267 shares during the period. Koshinski Asset Management Inc. purchased a new position in Molson Coors Beverage during the third quarter worth about $33,000. Arlington Partners LLC purchased a new position in Molson Coors Beverage during the third quarter worth about $67,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Molson Coors Beverage during the second quarter worth about $77,000. 80.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TAP stock opened at $51.69 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.56 and a current ratio of 0.77. The company has a 50 day moving average price of $46.74 and a 200 day moving average price of $47.64. Molson Coors Beverage has a fifty-two week low of $42.46 and a fifty-two week high of $61.48.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Wednesday, October 27th. The company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.22. The firm had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.91 billion. Molson Coors Beverage had a negative net margin of 3.69% and a positive return on equity of 6.22%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. On average, equities analysts predict that Molson Coors Beverage will post 4.2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Friday, December 3rd were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, December 2nd. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -66.02%.

TAP has been the topic of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 28th. Credit Suisse Group reduced their target price on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underperform” rating on the stock in a research note on Friday, October 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Molson Coors Beverage from $50.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, October 18th. Barclays dropped their price target on shares of Molson Coors Beverage from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, November 1st. Finally, Morgan Stanley dropped their price target on shares of Molson Coors Beverage from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Monday, November 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $53.91.

Molson Coors Beverage Profile

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

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

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