Molson Coors Beverage Company $TAP Shares Acquired 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 position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,935 shares of the company's stock after purchasing an additional 6,639 shares during the period. 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 (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Golden State Wealth Management LLC boosted its holdings 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 during the period. Millstone Evans Group LLC increased its stake in Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after purchasing an additional 255 shares during the period. Elequin Capital LP bought a new stake in shares of Molson Coors Beverage during the first quarter worth $30,000. Financial Management Professionals Inc. boosted its stake in shares of Molson Coors Beverage by 3,286.7% during the first 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 period. Finally, Eastern Bank bought a new position in shares of Molson Coors Beverage in the first quarter worth about $33,000. Institutional investors own 78.46% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. JPMorgan Chase & Co. lowered their price target on shares of 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. Morgan Stanley cut their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their target price for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.12.

Molson Coors Beverage Stock Down 0.4%

Shares of TAP stock traded down $0.21 during trading hours on Tuesday, reaching $50.28. 2,358,086 shares of the company's stock were exchanged, compared to its average volume of 2,385,242. Molson Coors Beverage Company has a fifty-two week low of $46.94 and a fifty-two week high of $64.66. The stock's 50 day moving average is $50.07 and its 200-day moving average is $54.68. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 1.84 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter last year, the firm earned $1.92 EPS. The business's quarterly 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 predict 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 will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.7%. Molson Coors Beverage's payout ratio is presently 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.