M&G Plc Has $13.94 Million Holdings in Molson Coors Beverage (NYSE:TAP)

M&G Plc increased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 7.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 273,378 shares of the company’s stock after acquiring an additional 18,889 shares during the period. M&G Plc owned 0.13% of Molson Coors Beverage worth $13,942,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter worth $127,337,000. Capital International Investors raised its position in shares of Molson Coors Beverage by 10.7% during the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock valued at $651,849,000 after buying an additional 939,142 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of Molson Coors Beverage in the first quarter valued at about $53,096,000. River Road Asset Management LLC grew its position in Molson Coors Beverage by 94.8% during the fourth quarter. River Road Asset Management LLC now owns 843,373 shares of the company’s stock worth $51,623,000 after buying an additional 410,467 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Molson Coors Beverage by 220.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company’s stock valued at $32,910,000 after acquiring an additional 336,496 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TAP shares. Bank of America decreased their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company raised their price target on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Piper Sandler upped their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating and cut their target price for the stock from $68.00 to $58.00 in a research report on Wednesday, August 7th. Finally, StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $60.53.

Molson Coors Beverage Trading Up 1.9 %

Shares of NYSE TAP opened at $52.99 on Wednesday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a market capitalization of $11.23 billion, a P/E ratio of 10.60, a P/E/G ratio of 2.26 and a beta of 0.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. The company’s 50 day simple moving average is $51.73 and its 200 day simple moving average is $58.37.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts predict that Molson Coors Beverage will post 5.56 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.32%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s payout ratio is 35.20%.

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.