Teza Capital Management LLC Buys Shares of 12,209 Molson Coors Beverage Company $TAP

Key Points

• Teza Capital Management LLC acquired 12,209 shares of Molson Coors Beverage Company, valued at approximately $743,000, during the first quarter.
• Several institutional investors, including Ameriprise Financial and KBC Group NV, increased their stakes in Molson Coors Beverage by significant percentages, highlighting growing institutional interest in the company.
• The stock has recently received adjusted price targets from various analysts, with a consensus average target price of $58.12 and a predominant rating of "Hold".

Teza Capital Management LLC bought a new stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,209 shares of the company's stock, valued at approximately $743,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TAP. Ameriprise Financial Inc. boosted its stake in Molson Coors Beverage by 414.3% during the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company's stock valued at $120,960,000 after purchasing an additional 1,600,748 shares during the period. KBC Group NV boosted its stake in Molson Coors Beverage by 269.1% during the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company's stock valued at $75,329,000 after purchasing an additional 902,296 shares during the period. Dimensional Fund Advisors LP boosted its stake in Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock valued at $274,144,000 after purchasing an additional 750,388 shares during the period. Bank of New York Mellon Corp boosted its stake in Molson Coors Beverage by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock valued at $251,442,000 after purchasing an additional 595,203 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Molson Coors Beverage by 72.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company's stock valued at $84,024,000 after purchasing an additional 579,649 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TAP has been the subject of a number of analyst reports. Wells Fargo & Company reduced their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Citigroup reduced their price target 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. Evercore ISI reduced their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. JPMorgan Chase & Co. reduced 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 note on Thursday, July 31st. Finally, UBS Group reduced their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $58.12.

Molson Coors Beverage Stock Up 0.9%

TAP stock opened at $50.37 on Friday. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The firm has a market cap of $10.18 billion, a PE ratio of 9.93, a P/E/G ratio of 1.84 and a beta of 0.69. The firm has a 50 day simple moving average of $50.23 and a 200 day simple moving average of $54.47. 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 released its earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating 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 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 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. Equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid 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 3.7%. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.