Barrow Hanley Mewhinney & Strauss LLC Has $19.38 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Barrow Hanley Mewhinney & Strauss LLC trimmed its stake in shares of Molson Coors Beverage (NYSE:TAP) by 14.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 381,182 shares of the company’s stock after selling 63,074 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Molson Coors Beverage were worth $19,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TAP. D.A. Davidson & CO. grew its position in Molson Coors Beverage by 38.0% in the fourth quarter. D.A. Davidson & CO. now owns 18,782 shares of the company’s stock valued at $1,150,000 after acquiring an additional 5,173 shares during the period. Corient Private Wealth LLC grew its holdings in shares of Molson Coors Beverage by 254.5% in the 4th quarter. Corient Private Wealth LLC now owns 42,240 shares of the company’s stock worth $2,586,000 after purchasing an additional 30,323 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Molson Coors Beverage by 24.7% in the 4th quarter. Franklin Resources Inc. now owns 236,511 shares of the company’s stock worth $14,477,000 after purchasing an additional 46,877 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Molson Coors Beverage by 5.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 62,655 shares of the company’s stock worth $3,835,000 after purchasing an additional 3,271 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Molson Coors Beverage by 71.0% during the 4th quarter. Intech Investment Management LLC now owns 20,362 shares of the company’s stock valued at $1,246,000 after purchasing an additional 8,455 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TAP has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Barclays lifted their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Jefferies Financial Group reduced their target price 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 raised their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, TD Cowen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $68.00 to $58.00 in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.53.

Molson Coors Beverage Trading Down 1.5 %

NYSE TAP opened at $54.49 on Monday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a 50-day simple moving average of $53.77 and a 200 day simple moving average of $56.86. 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 company has a market capitalization of $11.54 billion, a PE ratio of 10.90, a P/E/G ratio of 2.33 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. Molson Coors Beverage’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. Research 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 was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were issued a $0.44 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.23%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

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.