William Blair Investment Management LLC Has $436,000 Stock Holdings in Molson Coors Beverage (NYSE:TAP)

William Blair Investment Management LLC lifted its stake in Molson Coors Beverage (NYSE:TAP) by 22.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,578 shares of the company’s stock after purchasing an additional 1,589 shares during the quarter. William Blair Investment Management LLC’s holdings in Molson Coors Beverage were worth $436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TAP. Norges Bank acquired a new position in shares of Molson Coors Beverage in the fourth quarter worth about $127,337,000. Capital International Investors grew its position in Molson Coors Beverage by 10.7% during the 1st quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after purchasing an additional 939,142 shares in the last quarter. Ilex Capital Partners UK LLP purchased a new position in Molson Coors Beverage during the 1st quarter worth approximately $53,096,000. Royal London Asset Management Ltd. raised its stake in Molson Coors Beverage by 471.2% during the 2nd quarter. Royal London Asset Management Ltd. now owns 452,692 shares of the company’s stock valued at $23,010,000 after purchasing an additional 373,440 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Molson Coors Beverage by 220.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company’s stock valued at $32,910,000 after purchasing an additional 336,496 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP opened at $55.50 on Tuesday. The stock has a 50-day moving average of $53.30 and a 200-day moving average of $57.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a market cap of $11.76 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Molson Coors Beverage will post 5.75 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.17%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Barclays increased their price target on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group cut their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Finally, Piper Sandler boosted their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.53.

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.