Ameriprise Financial Inc. Acquires 1,600,748 Shares of Molson Coors Beverage Company $TAP

Key Points

• Ameriprise Financial Inc. increased its stake in Molson Coors Beverage by 414.3% during the first quarter, now owning approximately 1,987,132 shares valued at around $120.96 million.
• Several analysts have revised their price targets for Molson Coors Beverage, with Goldman Sachs lowering its target from $77.00 to $67.00 while maintaining a "buy" rating.
• Molson Coors Beverage recently reported an earnings per share (EPS) of $2.05, exceeding expectations, while also announcing a quarterly dividend of $0.47 per share, resulting in a yield of 3.6%.

Ameriprise Financial Inc. grew its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 414.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,987,132 shares of the company's stock after buying an additional 1,600,748 shares during the quarter. Ameriprise Financial Inc. owned 0.98% of Molson Coors Beverage worth $120,960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TAP. Fairfax Financial Holdings Ltd. Can bought a new position in Molson Coors Beverage in the 4th quarter valued at about $68,010,000. KBC Group NV raised its stake in shares of Molson Coors Beverage by 269.1% in the first quarter. KBC Group NV now owns 1,237,539 shares of the company's stock worth $75,329,000 after purchasing an additional 902,296 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock valued at $274,144,000 after purchasing an additional 750,388 shares in the last quarter. Estuary Capital Management LP bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $39,052,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Molson Coors Beverage by 16.8% during the first 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. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Performance

TAP traded up $0.23 during midday trading on Friday, reaching $50.45. The company had a trading volume of 1,714,557 shares, compared to its average volume of 2,642,138. Molson Coors Beverage Company has a 12-month low of $46.94 and a 12-month high of $64.66. The business has a 50-day moving average price of $49.98 and a two-hundred day moving average price of $54.81. The stock has a market cap of $10.20 billion, a PE ratio of 9.95, a P/E/G ratio of 1.84 and a beta of 0.67. 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 (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted $1.92 EPS. Molson Coors Beverage's quarterly revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, sell-side analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid 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 payout ratio is presently 37.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TAP shares. Piper Sandler lowered their price target on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday, June 23rd. JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Evercore ISI dropped 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 report on Wednesday, August 6th. Wells Fargo & Company cut their price target 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, Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $58.12.

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.