Molson Coors Beverage Company $TAP Shares Bought by Ameriprise Financial Inc.

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. lifted its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 414.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,987,132 shares of the company's stock after acquiring an additional 1,600,748 shares during the period. Ameriprise Financial Inc. owned about 0.98% of Molson Coors Beverage worth $120,960,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TAP. Golden State Wealth Management LLC increased its stake in Molson Coors Beverage by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after purchasing an additional 290 shares during the last quarter. Millstone Evans Group LLC boosted its holdings in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after buying an additional 255 shares during the period. Elequin Capital LP bought a new stake in shares of Molson Coors Beverage during the 1st quarter valued at about $30,000. Financial Management Professionals Inc. raised its stake in Molson Coors Beverage by 3,286.7% during the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after acquiring an additional 493 shares during the period. Finally, Eastern Bank acquired a new stake in Molson Coors Beverage during the first quarter worth about $33,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TAP shares. The Goldman Sachs Group lowered their target price 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. Sanford C. Bernstein dropped their target price on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 9th. Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their target price for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Piper Sandler reduced their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a report on Monday, June 23rd. Finally, Wall Street Zen cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average target price of $58.12.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $52.7750 on Monday. The firm has a market capitalization of $10.67 billion, a PE ratio of 10.41, a P/E/G ratio of 1.92 and a beta of 0.67. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $49.79 and a 200 day moving average price of $54.92. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage's revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, sell-side analysts anticipate 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 given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is 37.08%.

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.

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