Czech National Bank Raises Stock Holdings in Molson Coors Beverage Company $TAP

Czech National Bank grew its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,879 shares of the company’s stock after acquiring an additional 2,334 shares during the quarter. Czech National Bank’s holdings in Molson Coors Beverage were worth $2,014,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of Molson Coors Beverage by 414.3% in the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock valued at $120,960,000 after buying an additional 1,600,748 shares in the last quarter. KBC Group NV boosted its holdings in Molson Coors Beverage by 269.1% in the first quarter. KBC Group NV now owns 1,237,539 shares of the company’s stock valued at $75,329,000 after purchasing an additional 902,296 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock worth $274,144,000 after buying an additional 750,388 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Molson Coors Beverage by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock worth $251,442,000 after buying an additional 595,203 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Molson Coors Beverage by 72.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company’s stock worth $84,024,000 after buying an additional 579,649 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Down 0.7%

Molson Coors Beverage stock opened at $46.55 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The business’s 50-day simple moving average is $49.99 and its 200-day simple moving average is $53.63. The firm has a market capitalization of $9.20 billion, a PE ratio of 9.18, a PEG ratio of 1.71 and a beta of 0.69. Molson Coors Beverage Company has a 52 week low of $46.35 and a 52 week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Equities research analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 5th. Molson Coors Beverage’s payout ratio is presently 37.08%.

Analysts Set New Price Targets

TAP has been the topic of a number of research analyst reports. Piper Sandler reduced their target price on Molson Coors Beverage from $58.00 to $53.00 and set a “neutral” rating on the stock in a report on Monday, June 23rd. Evercore ISI reduced their target price on Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. JPMorgan Chase & Co. reduced their target price on Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. Barclays reissued an “underweight” rating and issued a $50.00 price target (up previously from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Finally, Citigroup cut their price target on Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.18.

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.