Principal Financial Group Inc. Boosts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Principal Financial Group Inc. grew its position in Molson Coors Beverage (NYSE:TAP) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 211,812 shares of the company’s stock after acquiring an additional 9,510 shares during the quarter. Principal Financial Group Inc. owned about 0.10% of Molson Coors Beverage worth $12,183,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in shares of Molson Coors Beverage during the second quarter worth $27,000. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage during the third quarter worth about $35,000. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage in the 3rd quarter valued at about $42,000. True Wealth Design LLC purchased a new position in Molson Coors Beverage in the 3rd quarter worth approximately $59,000. Finally, Quarry LP acquired a new position in shares of Molson Coors Beverage during the 2nd quarter worth approximately $54,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $57.82 on Monday. The firm’s 50 day moving average is $59.28 and its two-hundred day moving average is $55.42. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $11.91 billion, a P/E ratio of 13.02, a P/E/G ratio of 2.38 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The company’s revenue was down 7.8% compared to the same quarter last year. Research analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.04%. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

Wall Street Analyst Weigh In

TAP has been the topic of a number of analyst reports. Barclays lifted their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. Needham & Company LLC began coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective for the company. TD Cowen reduced their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.00.

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.