Northwestern Mutual Wealth Management Co. increased its position in Molson Coors Beverage (NYSE:TAP – Get Rating) by 60.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,357 shares of the company’s stock after acquiring an additional 2,401 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Molson Coors Beverage were worth $339,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Retirement Planning Co of New England Inc. purchased a new stake in Molson Coors Beverage in the 4th quarter worth approximately $28,000. Tobam purchased a new stake in Molson Coors Beverage in the 1st quarter worth approximately $37,000. Manchester Capital Management LLC increased its holdings in Molson Coors Beverage by 324.2% in the 4th quarter. Manchester Capital Management LLC now owns 1,366 shares of the company’s stock worth $63,000 after acquiring an additional 1,044 shares in the last quarter. CKW Financial Group increased its holdings in Molson Coors Beverage by 22.2% in the 1st quarter. CKW Financial Group now owns 1,650 shares of the company’s stock worth $86,000 after acquiring an additional 300 shares in the last quarter. Finally, CWM LLC increased its holdings in Molson Coors Beverage by 81.3% in the 1st quarter. CWM LLC now owns 1,953 shares of the company’s stock worth $104,000 after acquiring an additional 876 shares in the last quarter. 79.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on TAP shares. Credit Suisse Group reduced their target price on shares of Molson Coors Beverage from $50.00 to $49.00 and set an “underperform” rating for the company in a report on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on Molson Coors Beverage from $54.00 to $52.00 in a research note on Wednesday, August 3rd. Citigroup upped their price target on Molson Coors Beverage from $58.00 to $61.00 in a research note on Friday, May 6th. TheStreet downgraded Molson Coors Beverage from a “b” rating to a “c+” rating in a research note on Thursday, August 4th. Finally, The Goldman Sachs Group upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $53.44.
Molson Coors Beverage Stock Down 1.4 %
NYSE TAP opened at $55.33 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.57 and a current ratio of 0.82. The company has a market capitalization of $11.99 billion, a P/E ratio of 16.42, a P/E/G ratio of 3.31 and a beta of 0.82. Molson Coors Beverage has a one year low of $42.46 and a one year high of $60.12. The stock has a 50 day moving average price of $55.67 and a 200-day moving average price of $53.73.
Molson Coors Beverage (NYSE:TAP – Get Rating) last posted its earnings results on Tuesday, August 2nd. The company reported $1.19 EPS for the quarter, meeting analysts’ consensus estimates of $1.19. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.94 billion. Molson Coors Beverage had a return on equity of 6.46% and a net margin of 5.73%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 EPS. As a group, equities analysts predict that Molson Coors Beverage will post 3.98 EPS for the current fiscal year.
Molson Coors Beverage Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, September 2nd will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 1st. This represents a $1.52 annualized dividend and a yield of 2.75%. Molson Coors Beverage’s payout ratio is presently 45.10%.
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, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.
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