Dimensional Fund Advisors LP Raises Stock Position in Molson Coors Beverage (NYSE:TAP)

Dimensional Fund Advisors LP grew its holdings in Molson Coors Beverage (NYSE:TAP) by 20.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,579,811 shares of the company’s stock after purchasing an additional 434,685 shares during the quarter. Dimensional Fund Advisors LP owned 1.22% of Molson Coors Beverage worth $131,130,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its position in Molson Coors Beverage by 10.7% in the 1st quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock valued at $651,849,000 after purchasing an additional 939,142 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in Molson Coors Beverage in the first quarter valued at approximately $53,096,000. Royal London Asset Management Ltd. lifted its stake in Molson Coors Beverage by 471.2% in the second quarter. Royal London Asset Management Ltd. now owns 452,692 shares of the company’s stock worth $23,010,000 after acquiring an additional 373,440 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Molson Coors Beverage by 220.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company’s stock worth $32,910,000 after acquiring an additional 336,496 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Molson Coors Beverage by 166.5% in the 4th quarter. KBC Group NV now owns 450,649 shares of the company’s stock valued at $27,584,000 after purchasing an additional 281,580 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $54.49 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The business has a 50 day simple moving average of $53.77 and a 200-day simple moving average of $56.86. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a market capitalization of $11.54 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping 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 company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.78 EPS. Equities analysts predict that Molson Coors Beverage will post 5.75 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

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

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group dropped their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Citigroup decreased their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Bank of America dropped their price target on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Barclays boosted their price objective 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. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.