Russell Investments Group Ltd. Acquires 3,645 Shares of Molson Coors Beverage Company $TAP

Russell Investments Group Ltd. increased its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 1.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 308,214 shares of the company’s stock after purchasing an additional 3,645 shares during the period. Russell Investments Group Ltd.’s holdings in Molson Coors Beverage were worth $14,822,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TAP. Longfellow Investment Management Co. LLC lifted its stake in Molson Coors Beverage by 63.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 11,804 shares of the company’s stock valued at $568,000 after buying an additional 4,603 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Molson Coors Beverage by 2.0% during the second quarter. Ameritas Investment Partners Inc. now owns 50,058 shares of the company’s stock worth $2,407,000 after acquiring an additional 991 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Molson Coors Beverage by 0.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,714,591 shares of the company’s stock worth $82,455,000 after acquiring an additional 9,659 shares during the period. Rhumbline Advisers lifted its position in Molson Coors Beverage by 19.6% in the 2nd quarter. Rhumbline Advisers now owns 435,681 shares of the company’s stock valued at $20,952,000 after acquiring an additional 71,398 shares in the last quarter. Finally, Mufg Securities Americas Inc. lifted its position in Molson Coors Beverage by 24.6% in the 2nd quarter. Mufg Securities Americas Inc. now owns 3,797 shares of the company’s stock valued at $183,000 after acquiring an additional 749 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TAP. Morgan Stanley lowered their target price on 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. Roth Capital reaffirmed a “buy” rating and set a $65.00 price objective (down from $67.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 5th. Barclays decreased their price objective on Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating for the company in a report on Thursday, November 6th. UBS Group dropped their target price on Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Finally, The Goldman Sachs Group reduced their price target on Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $53.59.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $46.95 on Tuesday. Molson Coors Beverage Company has a 52-week low of $42.94 and a 52-week high of $64.66. The company has a market cap of $9.28 billion, a P/E ratio of 9.26, a P/E/G ratio of 1.60 and a beta of 0.65. 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 stock’s 50-day simple moving average is $45.76 and its 200 day simple moving average is $48.82.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, sell-side analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors 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 dividend yield of 4.0%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -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.