Deutsche Bank AG Has $170.27 Million Position in Molson Coors Beverage Company (NYSE:TAP)

Key Points

• Deutsche Bank AG increased its stake in Molson Coors Beverage Company by 24.2%, owning 2,797,189 shares valued at approximately $170.27 million.
• Molson Coors Beverage announced a quarterly dividend of $0.47 per share, with a payout ratio of 37.08%, scheduled for payment on September 19th.
• Analysts have recently adjusted their price targets for Molson Coors, with consensus ratings showing a "Hold" and an average price target of $58.12.

Deutsche Bank AG increased its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 24.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,797,189 shares of the company's stock after purchasing an additional 544,353 shares during the period. Deutsche Bank AG owned 1.38% of Molson Coors Beverage worth $170,265,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in Molson Coors Beverage by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,704,932 shares of the company's stock valued at $103,779,000 after acquiring an additional 20,311 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in Molson Coors Beverage in the 1st quarter valued at $5,531,000. Legacy Capital Group California Inc. raised its holdings in Molson Coors Beverage by 11.3% in the 1st quarter. Legacy Capital Group California Inc. now owns 13,756 shares of the company's stock valued at $837,000 after acquiring an additional 1,400 shares during the last quarter. Ruffer LLP acquired a new position in Molson Coors Beverage in the 1st quarter valued at $11,487,000. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in Molson Coors Beverage by 12.1% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 3,700 shares of the company's stock valued at $225,000 after acquiring an additional 400 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

NYSE TAP traded up $0.72 during midday trading on Tuesday, hitting $51.03. The company had a trading volume of 2,667,433 shares, compared to its average volume of 2,488,176. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 1.85 and a beta of 0.67. The firm has a fifty day simple moving average of $49.86 and a two-hundred day simple moving average of $55.11. Molson Coors Beverage Company has a fifty-two week low of $46.94 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The business's quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $1.92 EPS. Equities analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's payout ratio is 37.08%.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the sale, the director directly owned 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.71% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TAP shares. Citigroup lowered their price objective on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. UBS Group decreased their target price on shares of Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley lowered their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group reduced their target price on shares of Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Sanford C. Bernstein cut their target price on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research report on Wednesday, July 9th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.12.

Molson Coors Beverage Company 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.