Caisse DE Depot ET Placement DU Quebec Increases Stock Position 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 stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 72.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,380,377 shares of the company's stock after buying an additional 579,649 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.68% of Molson Coors Beverage worth $84,024,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Randolph Co Inc grew its position in Molson Coors Beverage by 26.2% during the fourth quarter. Randolph Co Inc now owns 477,187 shares of the company's stock valued at $27,352,000 after buying an additional 98,984 shares during the period. Principal Financial Group Inc. grew its position in Molson Coors Beverage by 14.7% during the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company's stock valued at $14,498,000 after buying an additional 30,463 shares during the period. Nuveen LLC bought a new position in Molson Coors Beverage during the first quarter valued at about $22,253,000. Kendall Capital Management lifted its holdings in Molson Coors Beverage by 42.7% during the first quarter. Kendall Capital Management now owns 19,995 shares of the company's stock valued at $1,217,000 after purchasing an additional 5,985 shares during the last quarter. Finally, Estuary Capital Management LP purchased a new stake in Molson Coors Beverage during the fourth quarter valued at about $39,052,000. Institutional investors own 78.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TAP shares. The Goldman Sachs Group dropped their price objective on shares of Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Barclays dropped their price objective on shares of Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Evercore ISI dropped their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Finally, Needham & Company LLC dropped their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and a consensus price target of $58.12.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock traded up $0.23 on Friday, reaching $50.45. The stock had a trading volume of 1,714,557 shares, compared to its average volume of 2,642,138. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The company 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 0.67. 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 business's 50 day moving average is $49.98 and its two-hundred day moving average is $54.81.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business earned $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 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders 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 dividend yield of 3.7%. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.08%.

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.