UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Stock Position in Molson Coors Beverage Company $TAP

Key Points

• UBS Asset Management Americas LLC increased its holdings in Molson Coors Beverage Company (NYSE:TAP) by 5.2%, owning over $73 million in shares as of their latest SEC filing.
• Molson Coors recently announced a quarterly dividend of $0.47 per share, reflecting a 3.9% dividend yield and a payout ratio of 37.08%.
• Despite reporting better-than-expected earnings and revenue, Molson Coors' quarterly revenue decreased by 1.6% year-over-year, and its average analyst rating is currently a Hold with a target price around $58.18.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,200,243 shares of the company's stock after purchasing an additional 58,853 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.59% of Molson Coors Beverage worth $73,059,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TAP. Palogic Value Management L.P. raised its position in shares of Molson Coors Beverage by 7.9% in the 1st quarter. Palogic Value Management L.P. now owns 41,742 shares of the company's stock worth $2,541,000 after buying an additional 3,055 shares during the period. Woodline Partners LP raised its stake in Molson Coors Beverage by 38.7% during the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company's stock valued at $885,000 after purchasing an additional 4,056 shares during the period. Empowered Funds LLC increased its position in Molson Coors Beverage by 14.7% during the first quarter. Empowered Funds LLC now owns 209,071 shares of the company's stock worth $12,726,000 after buying an additional 26,719 shares during the last quarter. MBB Public Markets I LLC bought a new stake in Molson Coors Beverage during the 1st quarter valued at approximately $328,000. Finally, United Services Automobile Association bought a new stake in shares of Molson Coors Beverage in the first quarter valued at about $215,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays restated an "underweight" rating and issued a $50.00 price objective (up previously from $49.00) on shares of Molson Coors Beverage in a research report on Friday. UBS Group dropped their target price on shares of Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Morgan Stanley cut their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. lowered their target price 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. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average price target of $58.18.

Molson Coors Beverage Stock Down 1.3%

TAP stock traded down $0.61 during trading on Monday, hitting $47.81. 2,453,946 shares of the stock traded hands, compared to its average volume of 1,996,899. The firm's 50 day moving average is $50.21 and its two-hundred day moving average is $53.91. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 1.76 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 posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping 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 company 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 earned $1.92 EPS. The firm'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. On average, sell-side 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 announced 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. This represents a $1.88 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Molson Coors Beverage 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.