Northwestern Mutual Wealth Management Co. Increases Holdings in Molson Coors Beverage (NYSE:TAP)

Northwestern Mutual Wealth Management Co. lifted its position in Molson Coors Beverage (NYSE:TAP) by 26.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,707 shares of the company’s stock after buying an additional 14,661 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Molson Coors Beverage were worth $3,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TAP. TD Asset Management Inc grew its stake in shares of Molson Coors Beverage by 7.0% during the 4th quarter. TD Asset Management Inc now owns 49,701 shares of the company’s stock valued at $3,042,000 after purchasing an additional 3,271 shares during the period. Bank of Nova Scotia grew its position in Molson Coors Beverage by 31.1% during the fourth quarter. Bank of Nova Scotia now owns 24,264 shares of the company’s stock valued at $1,485,000 after buying an additional 5,759 shares during the period. California State Teachers Retirement System increased its holdings in Molson Coors Beverage by 0.3% during the fourth quarter. California State Teachers Retirement System now owns 289,782 shares of the company’s stock valued at $17,738,000 after buying an additional 846 shares during the last quarter. Jones Financial Companies Lllp raised its position in Molson Coors Beverage by 244.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,291 shares of the company’s stock worth $140,000 after acquiring an additional 1,625 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Molson Coors Beverage by 18.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 80,681 shares of the company’s stock worth $4,938,000 after acquiring an additional 12,511 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TAP shares. Barclays upped their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Jefferies Financial Group decreased 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 note on Thursday, July 18th. Wells Fargo & Company upped 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 report on Wednesday, August 7th. Finally, TD Cowen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and decreased their price objective for the company from $68.00 to $58.00 in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $60.53.

Molson Coors Beverage Trading Down 1.4 %

Shares of Molson Coors Beverage stock opened at $55.53 on Friday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $54.28 and a 200-day moving average price of $56.38. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 2.38 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released 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 business 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%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $1.78 EPS. Equities research analysts anticipate that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio 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.