Barrow Hanley Mewhinney & Strauss LLC Has $19.38 Million Position in Molson Coors Beverage (NYSE:TAP)

Barrow Hanley Mewhinney & Strauss LLC cut its stake in Molson Coors Beverage (NYSE:TAP) by 14.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 381,182 shares of the company’s stock after selling 63,074 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.18% of Molson Coors Beverage worth $19,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its position in Molson Coors Beverage by 66.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after purchasing an additional 2,155,842 shares during the last quarter. Capital International Investors increased its holdings in Molson Coors Beverage by 10.7% in the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after buying an additional 939,142 shares during the last quarter. Ilex Capital Partners UK LLP bought a new position in Molson Coors Beverage during the first quarter valued at approximately $53,096,000. Dimensional Fund Advisors LP lifted its stake in Molson Coors Beverage by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after acquiring an additional 434,685 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its position 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 in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TAP shares. TD Cowen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and cut their price target for the company from $68.00 to $58.00 in a report on Wednesday, August 7th. Citigroup cut their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group decreased their price target on 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. JPMorgan Chase & Co. raised their price objective on Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Three investment 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 currently has an average rating of “Hold” and a consensus target price of $60.53.

Molson Coors Beverage Price Performance

NYSE:TAP 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 stock has a market cap of $11.54 billion, a P/E ratio of 10.90, a PEG ratio of 2.33 and a beta of 0.81. The company has a fifty day moving average price of $53.77 and a 200 day moving average price of $56.86. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

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

Molson Coors Beverage Announces Dividend

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

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.