Molson Coors Beverage (NYSE:TAP) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in Molson Coors Beverage (NYSE:TAP) by 208.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 133,215 shares of the company’s stock after acquiring an additional 90,083 shares during the period. Intech Investment Management LLC owned 0.06% of Molson Coors Beverage worth $6,771,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Molson Coors Beverage by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 213,092 shares of the company’s stock valued at $13,043,000 after purchasing an additional 884 shares during the last quarter. D.A. Davidson & CO. grew its holdings in Molson Coors Beverage by 38.0% during the 4th quarter. D.A. Davidson & CO. now owns 18,782 shares of the company’s stock valued at $1,150,000 after buying an additional 5,173 shares during the last quarter. Corient Private Wealth LLC increased its position in Molson Coors Beverage by 254.5% during the fourth quarter. Corient Private Wealth LLC now owns 42,240 shares of the company’s stock worth $2,586,000 after buying an additional 30,323 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Molson Coors Beverage by 24.7% in the fourth quarter. Franklin Resources Inc. now owns 236,511 shares of the company’s stock worth $14,477,000 after acquiring an additional 46,877 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Molson Coors Beverage by 5.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 62,655 shares of the company’s stock valued at $3,835,000 after acquiring an additional 3,271 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $54.49 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm has a market capitalization of $11.54 billion, a P/E ratio of 10.90, a P/E/G ratio of 2.33 and a beta of 0.81. The business’s 50-day simple moving average is $53.77 and its 200-day simple moving average is $56.90.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the company posted $1.78 earnings per share. Molson Coors Beverage’s revenue was down .4% compared to the same quarter last year. Equities analysts predict that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Wall Street Analyst Weigh In

TAP has been the subject of several analyst reports. 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 note on Thursday, July 18th. Barclays boosted their price objective on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped 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 note on Wednesday, August 7th. UBS Group lifted their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.