Voya Investment Management LLC Has $3.34 Million Position in Molson Coors Beverage Company $TAP

Voya Investment Management LLC grew its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,875 shares of the company’s stock after acquiring an additional 465 shares during the period. Voya Investment Management LLC’s holdings in Molson Coors Beverage were worth $3,340,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Molson Coors Beverage by 14.7% during the 1st quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock valued at $14,498,000 after acquiring an additional 30,463 shares in the last quarter. Nuveen LLC purchased a new position in shares of Molson Coors Beverage during the 1st quarter valued at $22,253,000. Kendall Capital Management grew its holdings in shares of Molson Coors Beverage by 42.7% during the 1st quarter. Kendall Capital Management now owns 19,995 shares of the company’s stock valued at $1,217,000 after acquiring an additional 5,985 shares in the last quarter. Jump Financial LLC grew its holdings in shares of Molson Coors Beverage by 205.4% during the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after acquiring an additional 16,349 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Molson Coors Beverage by 7.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company’s stock valued at $1,352,000 after acquiring an additional 1,606 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $46.55 on Friday. Molson Coors Beverage Company has a 12-month low of $46.35 and a 12-month high of $64.66. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $9.20 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69. The firm has a 50-day moving average price of $49.99 and a 200 day moving average price of $53.63.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business 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. Research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 5th. Molson Coors Beverage’s dividend payout ratio is 37.08%.

Analyst Ratings Changes

Several research firms have recently commented on TAP. Barclays restated an “underweight” rating and set a $50.00 price target (up from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Evercore ISI decreased their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Morgan Stanley decreased their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. Sanford C. Bernstein decreased their price objective on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a report on Wednesday, July 9th. Finally, Bank of America cut shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $65.00 to $50.00 in a report on Friday, June 27th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.18.

Molson Coors Beverage Company 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.