21,357 Shares in Molson Coors Beverage Company $TAP Acquired by Redwood Investment Management LLC

Key Points

• Redwood Investment Management LLC has acquired 21,357 shares of Molson Coors Beverage Company (NYSE:TAP), valued at approximately $1.3 million.
• Molson Coors Beverage reported a quarterly earnings per share (EPS) of $2.05, exceeding analysts' estimates of $1.83, and had a revenue of $3.20 billion.
• The company announced a quarterly dividend of $0.47 per share, with an annualized dividend yield of 3.7%.

Redwood Investment Management LLC bought a new stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 21,357 shares of the company's stock, valued at approximately $1,300,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its holdings in Molson Coors Beverage by 83.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 29,880 shares of the company's stock valued at $1,819,000 after buying an additional 13,590 shares during the last quarter. Gabelli Funds LLC grew its holdings in Molson Coors Beverage by 47.1% in the 1st quarter. Gabelli Funds LLC now owns 140,600 shares of the company's stock valued at $8,558,000 after buying an additional 45,000 shares during the last quarter. Keeley Teton Advisors LLC grew its holdings in Molson Coors Beverage by 0.3% in the 1st quarter. Keeley Teton Advisors LLC now owns 90,192 shares of the company's stock valued at $5,490,000 after buying an additional 283 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Molson Coors Beverage by 72.4% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company's stock worth $84,024,000 after buying an additional 579,649 shares in the last quarter. Finally, Comerica Bank grew its position in Molson Coors Beverage by 4.9% during the first quarter. Comerica Bank now owns 110,349 shares of the company's stock worth $6,717,000 after buying an additional 5,131 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TAP. Evercore ISI decreased their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. UBS Group decreased their target price on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Barclays decreased their target price on Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Finally, Sanford C. Bernstein decreased 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. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold 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 $58.12.

Molson Coors Beverage Price Performance

NYSE TAP traded down $0.34 during trading on Tuesday, reaching $50.15. 467,212 shares of the company traded hands, compared to its average volume of 2,438,100. 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's 50 day moving average price is $50.03 and its two-hundred day moving average price is $54.71. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 1.84 and a beta of 0.69. Molson Coors Beverage Company has a 1-year low of $46.94 and a 1-year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its 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. The business had revenue of $3.20 billion for 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 was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current 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 given 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 yield of 3.7%. 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.