Charles Schwab Investment Management Inc. Buys 20,311 Shares of Molson Coors Beverage Company (NYSE:TAP)

Charles Schwab Investment Management Inc. raised its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 1.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,704,932 shares of the company's stock after purchasing an additional 20,311 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.84% of Molson Coors Beverage worth $103,779,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. LSV Asset Management boosted its holdings in shares of Molson Coors Beverage by 1.4% during the 1st quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock worth $387,711,000 after buying an additional 86,601 shares in the last quarter. Bank of New York Mellon Corp raised 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 buying an additional 595,203 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Molson Coors Beverage by 12.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company's stock valued at $215,146,000 after buying an additional 422,515 shares during the last quarter. Northern Trust Corp raised its position in Molson Coors Beverage by 12.7% in the 4th quarter. Northern Trust Corp now owns 1,970,718 shares of the company's stock valued at $112,962,000 after buying an additional 221,539 shares during the last quarter. Finally, KBC Group NV raised its position in Molson Coors Beverage by 269.1% in the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company's stock valued at $75,329,000 after buying an additional 902,296 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 0.4%

Shares of NYSE TAP traded up $0.19 during mid-day trading on Friday, hitting $51.42. 1,514,086 shares of the stock traded hands, compared to its average volume of 2,477,103. 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. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 10.14, a PEG ratio of 1.88 and a beta of 0.67. The stock has a fifty day moving average price of $49.80 and a 200-day moving average price of $55.02.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released 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. 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 the consensus estimate of $3.12 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. Research analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS 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. Investors of record on Friday, September 5th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend 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 37.08%.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the sale, the director directly owned 27,595 shares of the company's stock, valued at $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.71% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TAP. Citigroup decreased their price objective on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Barclays decreased their price objective on Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. decreased their price objective on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $58.12.

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.