Intech Investment Management LLC Boosts Holdings in Molson Coors Beverage (NYSE:TAP)

Intech Investment Management LLC increased its position in Molson Coors Beverage (NYSE:TAP) by 208.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 133,215 shares of the company’s stock after buying an additional 90,083 shares during the quarter. Intech Investment Management LLC’s holdings in Molson Coors Beverage were worth $6,771,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. MQS Management LLC acquired a new position in Molson Coors Beverage in the 2nd quarter worth $751,000. XTX Topco Ltd purchased a new position in Molson Coors Beverage in the second quarter valued at about $462,000. Garner Asset Management Corp grew its stake in Molson Coors Beverage by 26.9% during the 2nd quarter. Garner Asset Management Corp now owns 21,659 shares of the company’s stock valued at $1,101,000 after purchasing an additional 4,591 shares in the last quarter. Elo Mutual Pension Insurance Co increased its holdings in Molson Coors Beverage by 2.4% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 17,721 shares of the company’s stock worth $901,000 after purchasing an additional 417 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Molson Coors Beverage by 14.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,529 shares of the company’s stock valued at $737,000 after purchasing an additional 1,853 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

TAP stock opened at $54.49 on Friday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The stock’s fifty day moving average is $53.77 and its two-hundred day moving average is $56.90.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.18 billion. During the same period in the previous year, the business posted $1.78 EPS. Molson Coors Beverage’s revenue was down .4% on a year-over-year basis. On average, research analysts predict that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

Analyst Ratings Changes

A number of analysts recently issued reports on TAP shares. TD Cowen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and dropped their price target for the stock from $68.00 to $58.00 in a research note on Wednesday, August 7th. Jefferies Financial Group reduced their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Barclays increased their target price on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Finally, Bank of America lowered their price target on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.53.

About Molson Coors Beverage

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.