Toronto Dominion Bank Has $5.44 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Toronto Dominion Bank boosted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 38.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 94,500 shares of the company’s stock after buying an additional 26,198 shares during the period. Toronto Dominion Bank’s holdings in Molson Coors Beverage were worth $5,436,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Coldstream Capital Management Inc. lifted its position in Molson Coors Beverage by 26.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 5,901 shares of the company’s stock valued at $343,000 after acquiring an additional 1,246 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Molson Coors Beverage by 12.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 58,767 shares of the company’s stock valued at $3,380,000 after purchasing an additional 6,418 shares during the period. XTX Topco Ltd lifted its holdings in shares of Molson Coors Beverage by 183.1% in the third quarter. XTX Topco Ltd now owns 25,744 shares of the company’s stock valued at $1,481,000 after purchasing an additional 16,651 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Molson Coors Beverage by 52.0% during the third quarter. National Bank of Canada FI now owns 369,929 shares of the company’s stock worth $21,278,000 after buying an additional 126,527 shares during the period. Finally, iA Global Asset Management Inc. grew its holdings in shares of Molson Coors Beverage by 7.5% during the third quarter. iA Global Asset Management Inc. now owns 18,683 shares of the company’s stock worth $1,075,000 after buying an additional 1,311 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $61.07 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $12.58 billion, a P/E ratio of 13.75, a P/E/G ratio of 2.38 and a beta of 0.85. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a 50 day moving average of $58.53 and a 200-day moving average of $55.00.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations 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 posted $1.92 earnings per share. As a group, equities research analysts predict that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.44 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.88%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 39.64%.

Analyst Ratings Changes

TAP has been the subject of a number of recent research reports. Barclays upped their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. BNP Paribas assumed coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Two equities 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’s stock. According to MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $62.00.

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.