OLD National Bancorp IN Boosts Stock Position in Molson Coors Beverage Company $TAP

OLD National Bancorp IN boosted its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 4,872.4% during the second quarter, Holdings Channel reports. The firm owned 173,487 shares of the company’s stock after acquiring an additional 169,998 shares during the quarter. OLD National Bancorp IN’s holdings in Molson Coors Beverage were worth $8,343,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. LSV Asset Management grew its position in shares of Molson Coors Beverage by 1.4% in the 1st quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock worth $387,711,000 after buying an additional 86,601 shares during the last quarter. Clarkston Capital Partners LLC boosted its holdings in Molson Coors Beverage by 0.7% in the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company’s stock valued at $277,154,000 after acquiring an additional 33,535 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after acquiring an additional 750,388 shares in the last quarter. Bank of New York Mellon Corp increased its position in Molson Coors Beverage by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock valued at $251,442,000 after purchasing an additional 595,203 shares during the period. Finally, Deutsche Bank AG raised its holdings in Molson Coors Beverage by 24.2% in the 1st quarter. Deutsche Bank AG now owns 2,797,189 shares of the company’s stock worth $170,265,000 after purchasing an additional 544,353 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TAP shares. Jefferies Financial Group cut their target price on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, September 30th. Evercore ISI reduced their target price on Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Sanford C. Bernstein lowered their target price on Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, July 9th. Citigroup dropped their price target on Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Finally, Morgan Stanley decreased their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.88.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $46.40 on Monday. Molson Coors Beverage Company has a twelve month low of $43.80 and a twelve month high of $64.66. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.17 billion, a P/E ratio of 9.15, a PEG ratio of 1.69 and a beta of 0.63. The stock’s 50 day moving average is $48.98 and its 200 day moving average is $52.53.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the company posted $1.92 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, equities research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, September 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 37.08%.

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.