Principal Financial Group Inc. Buys 14,765 Shares of Molson Coors Beverage Company $TAP

Principal Financial Group Inc. raised its stake in Molson Coors Beverage Company (NYSE:TAP) by 7.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 222,262 shares of the company’s stock after acquiring an additional 14,765 shares during the period. Principal Financial Group Inc.’s holdings in Molson Coors Beverage were worth $9,571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its holdings in shares of Molson Coors Beverage by 5.0% during the first quarter. Chicago Partners Investment Group LLC now owns 9,199 shares of the company’s stock worth $393,000 after acquiring an additional 436 shares during the period. Applied Finance Capital Management LLC boosted its stake in Molson Coors Beverage by 24.9% in the 1st quarter. Applied Finance Capital Management LLC now owns 22,801 shares of the company’s stock worth $982,000 after purchasing an additional 4,549 shares during the period. Procyon Advisors LLC increased its holdings in Molson Coors Beverage by 4.9% during the 1st quarter. Procyon Advisors LLC now owns 7,730 shares of the company’s stock worth $333,000 after purchasing an additional 358 shares in the last quarter. Fifth Third Bancorp increased its holdings in Molson Coors Beverage by 457.0% during the 1st quarter. Fifth Third Bancorp now owns 57,237 shares of the company’s stock worth $2,465,000 after purchasing an additional 46,961 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Molson Coors Beverage by 15.2% in the 1st quarter. Hsbc Holdings PLC now owns 255,293 shares of the company’s stock valued at $10,990,000 after purchasing an additional 33,683 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TAP. Needham & Company LLC cut their price target on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Evercore decreased their price objective on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. UBS Group dropped their target price on Molson Coors Beverage from $46.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. TD Cowen upgraded Molson Coors Beverage to a “hold” rating in a research note on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft set a $41.00 price target on Molson Coors Beverage in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $44.00.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the transaction, the director owned 9,871 shares of the company’s stock, valued at $419,517.50. The trade was a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.27% of the stock is owned by company insiders.

Molson Coors Beverage Trading Up 2.3%

Molson Coors Beverage stock opened at $40.98 on Friday. The company has a market cap of $7.69 billion, a price-to-earnings ratio of -3.85 and a beta of 0.42. The firm has a 50-day moving average of $40.26 and a 200-day moving average of $44.07. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. Molson Coors Beverage Company has a one year low of $38.04 and a one year high of $54.82.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. Molson Coors Beverage’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that Molson Coors Beverage Company will post 4.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 28th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, August 28th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -18.05%.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.