Brown Brothers Harriman & Co. Has $550,000 Stake in Molson Coors Beverage (NYSE:TAP)

Brown Brothers Harriman & Co. raised its position in Molson Coors Beverage (NYSE:TAP) by 16.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 10,817 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Brown Brothers Harriman & Co.’s holdings in Molson Coors Beverage were worth $550,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors lifted its position in shares of Molson Coors Beverage by 10.7% during the 1st quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock valued at $651,849,000 after acquiring an additional 939,142 shares during the period. Norges Bank acquired a new position in shares of Molson Coors Beverage during the 4th quarter valued at $127,337,000. Goldman Sachs Group Inc. lifted its position in shares of Molson Coors Beverage by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,396,489 shares of the company’s stock valued at $85,479,000 after acquiring an additional 153,968 shares during the period. Schroder Investment Management Group lifted its position in shares of Molson Coors Beverage by 0.9% during the 4th quarter. Schroder Investment Management Group now owns 1,254,963 shares of the company’s stock valued at $76,816,000 after acquiring an additional 11,514 shares during the period. Finally, Ilex Capital Partners UK LLP acquired a new position in shares of Molson Coors Beverage during the 1st quarter valued at $53,096,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TAP. Jefferies Financial Group dropped 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. Wells Fargo & Company boosted their price target 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. TD Cowen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and decreased their price target for the company from $68.00 to $58.00 in a research note on Wednesday, August 7th. Barclays boosted their price target on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Finally, Citigroup decreased their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Three 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $56.08 on Wednesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 2.33 and a beta of 0.81. The company has a fifty day moving average price of $53.40 and a 200-day moving average price of $57.07.

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

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.14%. Molson Coors Beverage’s payout ratio is currently 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.