Nuveen LLC Takes Position in Molson Coors Beverage Company $TAP

Key Points

• Nuveen LLC has invested approximately $22.25 million in Molson Coors Beverage Company, acquiring 365,590 shares valued at around $22,253,000, which represents 0.18% of the company as of its latest SEC filing.
• Insiders of Molson Coors have been active, with Director Geoffrey E. Molson selling 1,333 shares recently, decreasing his ownership by 4.61% after the transaction.
• Analysts have varied opinions on Molson Coors, with target prices ranging from $52.00 to $71.00, while the stock currently holds an average rating of "Hold".

Nuveen LLC bought a new position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 365,590 shares of the company's stock, valued at approximately $22,253,000. Nuveen LLC owned 0.18% of Molson Coors Beverage as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Randolph Co Inc grew its holdings in shares of Molson Coors Beverage by 26.2% in the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company's stock valued at $27,352,000 after buying an additional 98,984 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Molson Coors Beverage by 14.7% in the 1st quarter. Principal Financial Group Inc. now owns 238,178 shares of the company's stock valued at $14,498,000 after buying an additional 30,463 shares during the period. Kendall Capital Management grew its holdings in shares of Molson Coors Beverage by 42.7% in the 1st quarter. Kendall Capital Management now owns 19,995 shares of the company's stock valued at $1,217,000 after buying an additional 5,985 shares during the period. Estuary Capital Management LP acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $39,052,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Molson Coors Beverage by 7.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company's stock valued at $1,352,000 after buying an additional 1,606 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 2.0%

NYSE TAP traded up $1.0350 on Friday, reaching $52.7750. The company had a trading volume of 1,717,425 shares, compared to its average volume of 2,800,801. The company's fifty day moving average is $49.79 and its 200-day moving average is $54.92. 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 Company has a 1-year low of $46.94 and a 1-year high of $64.66. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.92 and a beta of 0.67.

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, 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 firm had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the previous year, the firm posted $1.92 EPS. The company's revenue for the quarter 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. On average, research analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share 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. Shareholders of record on Friday, September 5th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.6%. Molson Coors Beverage's payout ratio is 37.08%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TAP. Sanford C. Bernstein decreased their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a report on Wednesday, July 9th. JPMorgan Chase & Co. decreased 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 report on Thursday, July 31st. The Goldman Sachs Group decreased their price target on shares of Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Citigroup reduced their target price on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Finally, Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $65.00 to $50.00 in a research note on Friday, June 27th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of "Hold" and a consensus price target of $58.12.

Molson Coors Beverage Company 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.