Molson Coors Beverage (NYSE:TAP) Shares Purchased by Oldfield Partners LLP

Oldfield Partners LLP boosted its position in Molson Coors Beverage (NYSE:TAP) by 18.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,800 shares of the company’s stock after buying an additional 900 shares during the quarter. Molson Coors Beverage accounts for approximately 0.1% of Oldfield Partners LLP’s holdings, making the stock its 29th biggest holding. Oldfield Partners LLP’s holdings in Molson Coors Beverage were worth $295,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its holdings in Molson Coors Beverage by 16.1% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 10,817 shares of the company’s stock worth $550,000 after buying an additional 1,500 shares in the last quarter. Poehling Capital Management INC. acquired a new position in Molson Coors Beverage in the 2nd quarter worth $869,000. Envestnet Asset Management Inc. lifted its holdings in Molson Coors Beverage by 51.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 558,810 shares of the company’s stock worth $28,404,000 after buying an additional 190,394 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Molson Coors Beverage by 22.7% in the 2nd quarter. William Blair Investment Management LLC now owns 8,578 shares of the company’s stock worth $436,000 after buying an additional 1,589 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Molson Coors Beverage by 5.7% in the 2nd quarter. Federated Hermes Inc. now owns 107,692 shares of the company’s stock valued at $5,474,000 after purchasing an additional 5,822 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE TAP opened at $54.94 on Monday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.38 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a 50-day moving average price of $53.30 and a two-hundred day moving average price of $57.12.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. Molson Coors Beverage’s quarterly revenue was down .4% on a year-over-year basis. Analysts forecast that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. UBS Group upped their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Bank of America cut their target price on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. TD Cowen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and cut their target price for the company from $68.00 to $58.00 in a research note on Wednesday, August 7th. Finally, Piper Sandler upped their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.53.

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.