Molson Coors Beverage Company $TAP Position Increased by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in Molson Coors Beverage Company (NYSE:TAP) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,408 shares of the company’s stock after acquiring an additional 469 shares during the quarter. Fifth Third Bancorp’s holdings in Molson Coors Beverage were worth $549,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TAP. Wealth Enhancement Advisory Services LLC increased its position in Molson Coors Beverage by 75.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 61,327 shares of the company’s stock valued at $3,515,000 after acquiring an additional 26,318 shares during the period. GAMMA Investing LLC increased its position in Molson Coors Beverage by 6,851.8% in the 1st quarter. GAMMA Investing LLC now owns 326,385 shares of the company’s stock valued at $19,867,000 after acquiring an additional 321,690 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in Molson Coors Beverage in the 1st quarter valued at approximately $245,000. Rhumbline Advisers increased its position in Molson Coors Beverage by 12.3% in the 1st quarter. Rhumbline Advisers now owns 364,283 shares of the company’s stock valued at $22,174,000 after acquiring an additional 39,977 shares during the period. Finally, Czech National Bank increased its position in Molson Coors Beverage by 4.4% in the 1st quarter. Czech National Bank now owns 39,545 shares of the company’s stock valued at $2,407,000 after acquiring an additional 1,672 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on TAP shares. UBS Group lowered their target price on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Morgan Stanley lowered their price target on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 6th. Bank of America cut Molson Coors Beverage from a “buy” rating to a “neutral” rating and lowered their price target for the company from $65.00 to $50.00 in a research report on Friday, June 27th. The Goldman Sachs Group lowered their price target on Molson Coors Beverage from $77.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company lowered their price target on Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $57.99.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $45.82 on Tuesday. The business’s 50-day moving average price is $49.41 and its two-hundred day moving average price is $52.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage Company has a one year low of $43.80 and a one year high of $64.66. The company has a market capitalization of $9.06 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 1.63 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.12 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. The business’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. Analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.47 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.1%. Molson Coors Beverage’s payout ratio is 37.08%.

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.