Arrowstreet Capital Limited Partnership Has $35.11 Million Stock Position in Molson Coors Beverage Company $TAP

Arrowstreet Capital Limited Partnership grew its holdings in Molson Coors Beverage Company (NYSE:TAP) by 2,728.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 730,153 shares of the company’s stock after buying an additional 704,334 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.36% of Molson Coors Beverage worth $35,113,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of Molson Coors Beverage by 20.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,036,110 shares of the company’s stock worth $49,828,000 after purchasing an additional 175,587 shares during the last quarter. Nuveen LLC acquired a new position in Molson Coors Beverage in the first quarter valued at about $22,253,000. Jump Financial LLC grew its stake in Molson Coors Beverage by 205.4% during the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock worth $1,480,000 after buying an additional 16,349 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Molson Coors Beverage by 79.8% during the second quarter. Signaturefd LLC now owns 2,861 shares of the company’s stock worth $138,000 after buying an additional 1,270 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Molson Coors Beverage by 5.5% in the second quarter. Swiss National Bank now owns 537,600 shares of the company’s stock valued at $25,853,000 after acquiring an additional 27,900 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TAP. UBS Group lowered their target price on Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Monday. Needham & Company LLC reduced their target price on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. The Goldman Sachs Group lowered their price target on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $50.00 price objective (down previously from $53.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 19th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $53.59.

Insider Transactions at Molson Coors Beverage

In other news, Director Andrew Thomas Molson acquired 7,500 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average price of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the acquisition, the director owned 22,654 shares in the company, valued at $1,059,980.66. This trade represents a 49.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David S. Coors bought 2,245 shares of the stock in a transaction on Wednesday, November 5th. The stock was purchased at an average cost of $44.47 per share, with a total value of $99,835.15. Following the purchase, the director directly owned 30,586 shares of the company’s stock, valued at approximately $1,360,159.42. This represents a 7.92% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.71% of the stock is currently owned by company insiders.

Molson Coors Beverage Trading Down 1.0%

TAP opened at $45.10 on Friday. The firm has a 50 day simple moving average of $45.86 and a 200 day simple moving average of $48.63. Molson Coors Beverage Company has a fifty-two week low of $42.94 and a fifty-two week high of $64.66. The company has a market cap of $8.91 billion, a price-to-earnings ratio of -4.22 and a beta of 0.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.60 and a quick ratio of 0.45.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage had a positive return on equity of 8.78% and a negative net margin of 15.89%.Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.88 annualized dividend and a yield of 4.2%. Molson Coors Beverage’s dividend payout ratio is presently -17.60%.

Molson Coors Beverage 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.