Molson Coors Beverage Company $TAP Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Molson Coors Beverage Company by 107.5%, now owning 64,636 shares worth approximately $3.93 million.
• Several institutional investors, including Plato Investment Management Ltd and Bayforest Capital Ltd, have also recently adjusted their positions in Molson Coors Beverage, reflecting significant interest in the stock.
• Molson Coors Beverage declared a quarterly dividend of $0.47, with a 3.9% dividend yield, indicating a commitment to returning value to shareholders.

Intech Investment Management LLC raised its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 107.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,636 shares of the company's stock after acquiring an additional 33,482 shares during the quarter. Intech Investment Management LLC's holdings in Molson Coors Beverage were worth $3,934,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC boosted its position in Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after acquiring an additional 290 shares in the last quarter. Millstone Evans Group LLC lifted its holdings in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Molson Coors Beverage during the 1st quarter valued at $30,000. Financial Management Professionals Inc. lifted its holdings in shares of Molson Coors Beverage by 3,286.7% during the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after purchasing an additional 493 shares during the last quarter. Finally, Eastern Bank purchased a new stake in shares of Molson Coors Beverage during the 1st quarter valued at $33,000. Institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

TAP has been the subject of several analyst reports. Evercore ISI decreased their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. The Goldman Sachs Group decreased their price objective on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Barclays reiterated an "underweight" rating and set a $50.00 price objective (up previously from $49.00) on shares of Molson Coors Beverage in a report on Friday. Needham & Company LLC decreased their price objective on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Wells Fargo & Company cut their target price 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. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $58.18.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP traded down $0.61 during mid-day trading on Monday, hitting $47.81. The stock had a trading volume of 2,453,946 shares, compared to its average volume of 1,996,899. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The company has a 50 day moving average of $50.21 and a two-hundred day moving average of $53.91. Molson Coors Beverage Company has a twelve month low of $46.94 and a twelve month high of $64.66. The firm has a market cap of $9.45 billion, a PE ratio of 9.43, a PEG ratio of 1.76 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results 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 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 firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Research analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.08%.

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.