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

A number of other institutional investors and hedge funds have also bought and sold shares of the company. LSV Asset Management raised its position in Molson Coors Beverage by 1.4% during the 1st quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock valued at $387,711,000 after purchasing an additional 86,601 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 750,388 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Molson Coors Beverage by 16.8% during the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock valued at $251,442,000 after purchasing an additional 595,203 shares in the last quarter. Deutsche Bank AG boosted 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 valued at $170,265,000 after purchasing an additional 544,353 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Molson Coors Beverage by 12.7% during the fourth quarter. Northern Trust Corp now owns 1,970,718 shares of the company's stock valued at $112,962,000 after purchasing an additional 221,539 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TAP shares. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Roth Capital set a $71.00 price target on Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Citigroup reduced their price target on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Sanford C. Bernstein reduced their price target on 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. Finally, Wall Street Zen lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $58.12.

Molson Coors Beverage Stock Performance

NYSE TAP traded up $0.23 during trading hours on Monday, reaching $50.45. The stock had a trading volume of 1,714,557 shares, compared to its average volume of 2,573,391. The stock has a market cap of $10.20 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.84 and a beta of 0.69. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66. The stock has a fifty day moving average of $50.03 and a 200 day moving average of $54.71. 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 (NYSE:TAP - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.83 by $0.22. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.Molson Coors Beverage's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Sell-side analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

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