Brandywine Global Investment Management LLC Makes New $7.12 Million Investment in Molson Coors Beverage Company (NYSE:TAP)

Key Points

• Brandywine Global Investment Management LLC has invested $7.12 million in Molson Coors Beverage Company, acquiring 116,992 shares during the first quarter.
• Molson Coors recently experienced changes in analyst ratings, with firms like Evercore ISI and Barclays cutting their price targets but maintaining ratings that suggest potential growth.
• The company announced a quarterly dividend of $0.47, representing a yield of 3.7%, with a payout ratio of 37.08% as of the last earnings report.

Brandywine Global Investment Management LLC acquired a new position in Molson Coors Beverage Company (NYSE:TAP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 116,992 shares of the company's stock, valued at approximately $7,121,000. Brandywine Global Investment Management LLC owned about 0.06% of Molson Coors Beverage at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TAP. Barclays PLC boosted its position in Molson Coors Beverage by 1.8% in the fourth quarter. Barclays PLC now owns 528,469 shares of the company's stock worth $30,290,000 after purchasing an additional 9,389 shares during the last quarter. Mariner LLC boosted its position in Molson Coors Beverage by 22.3% in the fourth quarter. Mariner LLC now owns 33,449 shares of the company's stock worth $1,917,000 after purchasing an additional 6,095 shares during the last quarter. Guggenheim Capital LLC boosted its position in Molson Coors Beverage by 14.8% in the fourth quarter. Guggenheim Capital LLC now owns 36,151 shares of the company's stock worth $2,072,000 after purchasing an additional 4,656 shares during the last quarter. Jump Financial LLC boosted its position in Molson Coors Beverage by 55.0% in the fourth quarter. Jump Financial LLC now owns 7,958 shares of the company's stock worth $456,000 after purchasing an additional 2,824 shares during the last quarter. Finally, United Capital Financial Advisors LLC lifted its position in shares of Molson Coors Beverage by 26.2% during the 4th quarter. United Capital Financial Advisors LLC now owns 5,307 shares of the company's stock valued at $304,000 after buying an additional 1,102 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of recent research reports. Evercore ISI dropped their price target on 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. Wells Fargo & Company dropped their price target on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Barclays dropped their price target on 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. Piper Sandler dropped their price target on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, June 23rd. Finally, The Goldman Sachs Group dropped their price target on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $58.12.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $51.42 on Friday. The stock's 50-day simple moving average is $49.78 and its 200 day simple moving average is $54.99. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. 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 52-week low of $46.94 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. The business 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%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 EPS. Research analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the transaction, the director directly owned 27,595 shares in the company, valued at $1,553,322.55. This represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is owned by corporate insiders.

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.

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