Molson Coors Beverage Company $TAP Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Molson Coors Beverage Company (NYSE:TAP) by 8.4%, owning 85,935 shares valued at approximately $5.23 million.
• The company's recent quarterly earnings beat analyst expectations with $2.05 EPS, exceeding the consensus estimate of $1.83, and reported revenues of $3.20 billion.
• Molson Coors has declared a quarterly dividend of $0.47 per share, representing an annualized yield of 3.7%.

Northwestern Mutual Wealth Management Co. boosted its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,935 shares of the company's stock after purchasing an additional 6,639 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Molson Coors Beverage were worth $5,231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. Ameriprise Financial Inc. increased its stake in Molson Coors Beverage by 414.3% during the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company's stock worth $120,960,000 after acquiring an additional 1,600,748 shares during the last quarter. Fairfax Financial Holdings Ltd. Can acquired a new stake in Molson Coors Beverage during the fourth quarter worth about $68,010,000. KBC Group NV increased its stake in Molson Coors Beverage by 269.1% during the first quarter. KBC Group NV now owns 1,237,539 shares of the company's stock worth $75,329,000 after acquiring an additional 902,296 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Molson Coors Beverage by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock worth $274,144,000 after acquiring an additional 750,388 shares during the last quarter. Finally, Estuary Capital Management LP acquired a new stake in Molson Coors Beverage during the fourth quarter worth about $39,052,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 1.7%

Shares of TAP opened at $51.21 on Thursday. The company has a market capitalization of $10.35 billion, a P/E ratio of 10.10, a P/E/G ratio of 1.83 and a beta of 0.67. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66. 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 stock has a 50-day moving average price of $49.90 and a 200 day moving average price of $54.85.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. The firm had revenue of $3.20 billion during 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%.Molson Coors Beverage's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Sell-side analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.7%. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TAP. Needham & Company LLC dropped their price target on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Morgan Stanley decreased their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group decreased their target price on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, 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.

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