Molson Coors Beverage Company $TAP Stock Holdings Increased by Amundi

Key Points

• Amundi increased its Molson Coors Beverage stake by 8.2% in the first quarter, bringing its holdings to 451,290 shares worth approximately $19.4 million. Institutional investors collectively own 78.46% of TAP.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $44. Several firms recently lowered their targets, while ratings include four Buys, eleven Holds and four Sells.
• Molson Coors declared a quarterly dividend of $0.48 per share, equal to $1.92 annually and a 4.5% yield. TAP opened at $42.23, within a 52-week range of $38.04 to $54.82.

Amundi boosted its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 451,290 shares of the company's stock after purchasing an additional 34,207 shares during the period. Amundi owned approximately 0.24% of Molson Coors Beverage worth $19,433,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TAP. State Street Corp boosted its position in shares of Molson Coors Beverage by 19.2% in the third quarter. State Street Corp now owns 10,516,810 shares of the company's stock worth $475,886,000 after buying an additional 1,693,682 shares during the period. Dimensional Fund Advisors LP grew its position in Molson Coors Beverage by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company's stock worth $360,117,000 after acquiring an additional 790,314 shares in the last quarter. Invesco Ltd. increased its position in Molson Coors Beverage by 1.2% during the fourth quarter. Invesco Ltd. now owns 4,485,000 shares of the company's stock worth $209,360,000 after buying an additional 54,456 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Molson Coors Beverage by 16.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company's stock valued at $143,236,000 after acquiring an additional 469,607 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Molson Coors Beverage by 265.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company's stock worth $136,400,000 after purchasing an additional 2,122,085 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Ratings Changes

TAP has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Molson Coors Beverage from $45.00 to $43.00 and set a "neutral" rating for the company in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Molson Coors Beverage in a report on Wednesday, July 22nd. Sanford C. Bernstein cut their target price on shares of Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating for the company in a research report on Tuesday, May 26th. Morgan Stanley lowered their price target on Molson Coors Beverage from $52.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Monday, May 4th. Finally, Barclays dropped their price objective on Molson Coors Beverage from $43.00 to $41.00 and set an "underweight" rating on the stock in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and an average price target of $44.00.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the sale, the director owned 9,871 shares in the company, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.27% of the stock is currently owned by company insiders.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $42.23 on Wednesday. The company's fifty day moving average is $40.23 and its two-hundred day moving average is $43.76. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of -3.97 and a beta of 0.42.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 28th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, August 28th. Molson Coors Beverage's payout ratio is currently -18.05%.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada's Molson and the United States' Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.

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