51,387 Shares in Molson Coors Beverage Company $TAP Purchased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC acquired a new position in Molson Coors Beverage, purchasing 51,387 shares valued at approximately $3.1 million during the first quarter.
• Molson Coors reported earnings per share of $2.05, surpassing estimates of $1.83, while experiencing a 1.6% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.47 per share, resulting in an annualized yield of 3.9%, with a payout ratio of 37.08%.

Acadian Asset Management LLC acquired a new stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 51,387 shares of the company's stock, valued at approximately $3,123,000.

Other institutional investors have also recently bought and sold shares of the company. LSV Asset Management grew its position in Molson Coors Beverage by 1.4% in the 1st quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock worth $387,711,000 after purchasing an additional 86,601 shares during the last quarter. Clarkston Capital Partners LLC raised its stake in shares of Molson Coors Beverage by 0.7% in the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company's stock worth $277,154,000 after acquiring an additional 33,535 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock worth $274,144,000 after acquiring an additional 750,388 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Molson Coors Beverage by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock worth $251,442,000 after acquiring an additional 595,203 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Molson Coors Beverage by 24.2% during the first quarter. Deutsche Bank AG now owns 2,797,189 shares of the company's stock worth $170,265,000 after buying an additional 544,353 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

TAP has been the subject of several recent analyst reports. Piper Sandler lowered their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research note on Monday, June 23rd. UBS Group reduced 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 report on Wednesday, August 6th. Bank of America cut shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their price target for the company from $65.00 to $50.00 in a research note on Friday, June 27th. JPMorgan Chase & Co. cut their target price on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Finally, Citigroup cut their target price 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. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $58.18.

Molson Coors Beverage Trading Down 0.7%

Shares of NYSE TAP traded down $0.33 during midday trading on Friday, reaching $46.58. The stock had a trading volume of 1,583,517 shares, compared to its average volume of 2,430,514. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. Molson Coors Beverage Company has a twelve month low of $46.35 and a twelve month high of $64.66. The company's 50 day moving average price is $50.06 and its 200 day moving average price is $53.72. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its 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 firm had revenue of $3.20 billion during 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 revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, sell-side analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's payout ratio is presently 37.08%.

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.