Acadian Asset Management LLC Purchases New Shares in Molson Coors Beverage Company $TAP

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 bought 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 13F filing with the Securities and Exchange Commission. The fund bought 51,387 shares of the company's stock, valued at approximately $3,123,000.

Other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in Molson Coors Beverage by 414.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company's stock worth $120,960,000 after buying an additional 1,600,748 shares during the last quarter. KBC Group NV grew its stake in shares of Molson Coors Beverage by 269.1% during the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company's stock valued at $75,329,000 after acquiring an additional 902,296 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock valued at $274,144,000 after acquiring an additional 750,388 shares during the period. Bank of New York Mellon Corp boosted its stake in Molson Coors Beverage by 16.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock worth $251,442,000 after purchasing an additional 595,203 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Molson Coors Beverage by 72.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company's stock worth $84,024,000 after purchasing an additional 579,649 shares during the period. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

NYSE TAP traded down $0.35 on Friday, reaching $46.55. 5,386,130 shares of the stock traded hands, compared to its average volume of 2,046,938. The firm's fifty day simple moving average is $49.99 and its 200 day simple moving average is $53.63. 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 company has a market cap of $9.20 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 1.71 and a beta of 0.69. Molson Coors Beverage Company has a 12 month low of $46.35 and a 12 month high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company earned $1.92 earnings per share. The company's revenue for the quarter was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, research analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

Wall Street Analyst Weigh In

TAP has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Wells Fargo & Company reduced their target price on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Bank of America lowered 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. Needham & Company LLC cut their target price on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, UBS Group dropped their price target on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Molson Coors Beverage currently has an average rating of "Hold" and an average target price of $58.18.

Molson Coors Beverage 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.