Redwood Investment Management LLC Acquires Shares of 21,357 Molson Coors Beverage Company $TAP

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 acquired a new position in Molson Coors Beverage Company (NYSE:TAP - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 21,357 shares of the company's stock, valued at approximately $1,300,000.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. increased its stake 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 purchasing an additional 30,463 shares in the last quarter. Nuveen LLC purchased a new position in Molson Coors Beverage during the first quarter worth approximately $22,253,000. Kendall Capital Management grew its holdings in Molson Coors Beverage by 42.7% in the first quarter. Kendall Capital Management now owns 19,995 shares of the company's stock valued at $1,217,000 after purchasing an additional 5,985 shares during the period. Estuary Capital Management LP purchased a new stake in shares of Molson Coors Beverage in the fourth quarter valued at approximately $39,052,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Molson Coors Beverage by 7.7% in the first 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 in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 1.7%

TAP opened at $51.21 on Thursday. The firm has a market capitalization of $10.35 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.83 and a beta of 0.67. The company's 50 day simple moving average is $49.90 and its two-hundred day simple moving average is $54.85. Molson Coors Beverage Company has a 1-year low of $46.94 and a 1-year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the business earned $1.92 earnings per share. The business's revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid 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 dividend yield of 3.7%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.08%.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of recent analyst reports. 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. Needham & Company LLC dropped their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler reduced their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday, June 23rd. Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the company a "buy" rating in a research note on Tuesday, May 20th. Finally, UBS Group lowered their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and an average target price 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.

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