Caisse DE Depot ET Placement DU Quebec Grows Stake in Molson Coors Beverage Company $TAP

Key Points

• Caisse DE Depot ET Placement DU Quebec has increased its stake in Molson Coors Beverage Company by 72.4%, acquiring an additional 579,649 shares to total approximately 1,380,377 shares valued at $84 million.
• Several institutional investors have also increased their positions in Molson Coors, alongside a significant 78.46% of the company's stock now held by institutional investors.
• Molson Coors reported a quarterly EPS of $2.05, exceeding analysts' estimates of $1.83, although revenue decreased by 1.6% year-over-year.

Caisse DE Depot ET Placement DU Quebec boosted its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 72.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,380,377 shares of the company's stock after acquiring an additional 579,649 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.68% of Molson Coors Beverage worth $84,024,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Comerica Bank increased its stake in Molson Coors Beverage by 4.9% in the 1st quarter. Comerica Bank now owns 110,349 shares of the company's stock worth $6,717,000 after acquiring an additional 5,131 shares during the last quarter. Freedom Investment Management Inc. increased its position in shares of Molson Coors Beverage by 13.5% during the 1st quarter. Freedom Investment Management Inc. now owns 24,819 shares of the company's stock valued at $1,511,000 after purchasing an additional 2,953 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its position in shares of Molson Coors Beverage by 476.2% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 86,988 shares of the company's stock valued at $5,295,000 after purchasing an additional 71,890 shares during the last quarter. Jump Financial LLC increased its position in shares of Molson Coors Beverage by 205.4% during the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company's stock valued at $1,480,000 after purchasing an additional 16,349 shares during the last quarter. Finally, SVB Wealth LLC bought a new position in shares of Molson Coors Beverage during the 1st quarter valued at about $96,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Down 1.8%

TAP traded down $0.94 on Thursday, hitting $50.19. 2,054,209 shares of the company were exchanged, compared to its average volume of 2,776,090. The firm has a fifty day simple moving average of $49.93 and a two-hundred day simple moving average of $54.82. 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 12 month low of $46.94 and a 12 month high of $64.66. The stock has a market capitalization of $10.15 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 1.86 and a beta of 0.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly 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. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the company earned $1.92 EPS. Molson Coors Beverage's revenue for the quarter was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Sell-side analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

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

Analyst Upgrades and Downgrades

TAP has been the topic of several recent research reports. Bank of America lowered Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Piper Sandler reduced their price objective 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. Morgan Stanley reduced their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 9th. Finally, Evercore ISI reduced their price objective 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. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $58.12.

Molson Coors Beverage Company 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.