Molson Coors Beverage Company $TAP Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Molson Coors Beverage Company by 7.5%, owning approximately 162,153 shares valued at $9.87 million as of the latest SEC filing.
• Analysts have downgraded their price targets for Molson Coors Beverage, with estimates now ranging from $51.00 to $67.00, and the consensus rating currently reflecting a "Hold" status.
• The company reported $2.05 EPS for the latest quarter, exceeding expectations, while also announcing a quarterly dividend of $0.47 per share with a yield of 3.7%.

American Century Companies Inc. raised its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,153 shares of the company's stock after buying an additional 11,325 shares during the quarter. American Century Companies Inc. owned about 0.08% of Molson Coors Beverage worth $9,870,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. LSV Asset Management grew its holdings in shares of Molson Coors Beverage by 1.4% during the first quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock worth $387,711,000 after buying an additional 86,601 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 last quarter. Bank of New York Mellon Corp boosted its position in shares of Molson Coors Beverage by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock valued at $251,442,000 after acquiring an additional 595,203 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Molson Coors Beverage by 24.2% during the 1st quarter. Deutsche Bank AG now owns 2,797,189 shares of the company's stock valued at $170,265,000 after acquiring an additional 544,353 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Molson Coors Beverage by 12.7% during the 4th quarter. Northern Trust Corp now owns 1,970,718 shares of the company's stock valued at $112,962,000 after acquiring an additional 221,539 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TAP. Evercore ISI lowered their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lowered their price target on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Wall Street Zen cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Barclays lowered their price target on shares of Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Finally, Bank of America cut shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price target for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $58.12.

Molson Coors Beverage Trading Up 0.5%

NYSE TAP traded up $0.23 during trading hours on Friday, reaching $50.45. The company had a trading volume of 1,714,557 shares, compared to its average volume of 2,642,138. The stock has a 50-day moving average of $49.98 and a 200 day moving average of $54.80. Molson Coors Beverage Company has a 1-year low of $46.94 and a 1-year high of $64.66. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $10.20 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67.

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

Molson Coors Beverage Dividend Announcement

The firm also recently declared 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 of this dividend is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is currently 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.