Molson Coors Beverage Company $TAP Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. increased its holdings in Molson Coors Beverage Company (NYSE:TAP) by 22.2% during the 2nd quarter, acquiring an additional 12,166 shares valued at $3.2 million.
• The company's quarterly earnings exceeded estimates with an EPS of $2.05, surpassing the consensus of $1.83, despite a 1.6% year-over-year decline in revenue.
• Molson Coors declared a quarterly dividend of $0.47 per share, leading to a 4.1% dividend yield with a payout ratio of 37.08%.

Assenagon Asset Management S.A. boosted its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 22.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,023 shares of the company's stock after buying an additional 12,166 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Molson Coors Beverage were worth $3,223,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Forum Financial Management LP lifted its holdings in shares of Molson Coors Beverage by 4.4% during the fourth quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock valued at $299,000 after purchasing an additional 220 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Molson Coors Beverage by 31.7% during the 4th quarter. Mackenzie Financial Corp now owns 22,190 shares of the company's stock worth $1,272,000 after buying an additional 5,346 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Molson Coors Beverage during the fourth quarter valued at about $7,422,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Molson Coors Beverage in the fourth quarter worth about $3,338,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Molson Coors Beverage by 75.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 61,327 shares of the company's stock worth $3,515,000 after acquiring an additional 26,318 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $45.39 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage Company has a one year low of $43.80 and a one year high of $64.66. The business's 50-day moving average price is $49.72 and its two-hundred day moving average price is $53.31. The company has a market capitalization of $8.97 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 1.61 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 (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $1.92 EPS. The firm's revenue was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, September 5th. This represents a $1.88 annualized dividend and a dividend yield of 4.1%. Molson Coors Beverage's dividend payout ratio is 37.08%.

Wall Street Analyst Weigh In

A number of research firms recently commented on TAP. Evercore ISI decreased their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Sanford C. Bernstein decreased their target price on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research report on Wednesday, July 9th. The Goldman Sachs Group lowered their price target on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Bank of America downgraded Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $65.00 to $50.00 in a research note on Friday, June 27th. Finally, Barclays restated an "underweight" rating and set a $50.00 price objective (up from $49.00) on shares of Molson Coors Beverage in a research report on Friday, September 12th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $58.18.

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.

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