Pacer Advisors Inc. Has $255.27 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Pacer Advisors Inc. cut its position in Molson Coors Beverage (NYSE:TAP) by 14.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,453,458 shares of the company’s stock after selling 734,289 shares during the quarter. Pacer Advisors Inc. owned approximately 2.16% of Molson Coors Beverage worth $255,272,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at about $35,000. Gladius Capital Management LP bought a new stake in Molson Coors Beverage during the 3rd quarter valued at approximately $42,000. Quarry LP acquired a new stake in Molson Coors Beverage in the 2nd quarter valued at approximately $54,000. True Wealth Design LLC bought a new position in Molson Coors Beverage in the 3rd quarter worth approximately $59,000. Finally, Allworth Financial LP lifted its holdings in shares of Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock worth $68,000 after buying an additional 297 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 2.2 %

Shares of NYSE:TAP opened at $55.23 on Monday. The company’s fifty day moving average is $58.37 and its 200-day moving average is $56.13. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a market capitalization of $11.38 billion, a PE ratio of 12.44, a P/E/G ratio of 2.04 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.92 earnings per share. Equities research analysts predict that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is presently 39.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TAP shares. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Needham & Company LLC assumed coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective on the stock. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. boosted their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $61.79.

About Molson Coors Beverage

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.