Campbell & CO Investment Adviser LLC Buys 71,890 Shares of Molson Coors Beverage Company $TAP

Key Points

• Campbell & CO Investment Adviser LLC increased its holdings in Molson Coors Beverage by 476.2% in Q1, now owning 86,988 shares valued at approximately $5.30 million.
• Brokerages are mixed on Molson Coors, with price targets ranging from $51.00 to $71.00, and an average consensus price target of $58.12.
• Molson Coors Beverage recently announced a quarterly dividend of $0.47 per share with a dividend yield of 3.6% and a payout ratio of 37.08%.

Campbell & CO Investment Adviser LLC increased its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 476.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,988 shares of the company's stock after purchasing an additional 71,890 shares during the period. Molson Coors Beverage makes up 0.4% of Campbell & CO Investment Adviser LLC's investment portfolio, making the stock its 29th biggest holding. Campbell & CO Investment Adviser LLC's holdings in Molson Coors Beverage were worth $5,295,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. LSV Asset Management boosted its stake in Molson Coors Beverage by 1.4% in the first quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock valued at $387,711,000 after acquiring an additional 86,601 shares during the last quarter. Clarkston Capital Partners LLC raised its position in shares of Molson Coors Beverage by 0.7% in the 1st quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company's stock valued at $277,154,000 after buying an additional 33,535 shares in the last quarter. Dimensional Fund Advisors LP increased 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 worth $274,144,000 after purchasing an additional 750,388 shares in the last quarter. Bank of New York Mellon Corp increased its position in Molson Coors Beverage by 16.8% in 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 period. Finally, Deutsche Bank AG increased its position in Molson Coors Beverage by 24.2% in 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 period. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded up $0.88 during midday trading on Wednesday, reaching $51.21. 2,029,845 shares of the stock traded hands, compared to its average volume of 2,786,800. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The stock has a market capitalization of $10.35 billion, a PE ratio of 10.10, a P/E/G ratio of 1.83 and a beta of 0.67. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66. The company's 50 day moving average is $49.90 and its 200 day moving average is $54.85.

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 firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate 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. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, equities research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share 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 given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of recent research reports. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Evercore ISI decreased 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 note on Wednesday, August 6th. Needham & Company LLC decreased their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company dropped their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Finally, Morgan Stanley dropped their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.