Fuller & Thaler Asset Management Inc. Acquires 9,300 Shares of Molson Coors Beverage Company $TAP

Fuller & Thaler Asset Management Inc. increased its holdings in Molson Coors Beverage Company (NYSE:TAP) by 69.8% in the first quarter, HoldingsChannel.com reports. The fund owned 22,625 shares of the company’s stock after acquiring an additional 9,300 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Molson Coors Beverage were worth $1,377,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock worth $25,000 after purchasing an additional 290 shares during the period. Millstone Evans Group LLC raised its stake in Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after buying an additional 255 shares in the last quarter. Elequin Capital LP purchased a new stake in Molson Coors Beverage in the first quarter worth about $30,000. Financial Management Professionals Inc. lifted its holdings in Molson Coors Beverage by 3,286.7% in the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company’s stock worth $31,000 after buying an additional 493 shares during the period. Finally, Eastern Bank bought a new stake in Molson Coors Beverage during the 1st quarter valued at approximately $33,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TAP. Barclays decreased their target price on Molson Coors Beverage from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 7th. Bank of America downgraded Molson Coors Beverage from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $65.00 to $50.00 in a report on Friday, June 27th. Piper Sandler lowered their price objective on Molson Coors Beverage from $58.00 to $53.00 and set a “neutral” rating for the company in a research report on Monday, June 23rd. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $58.12.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $51.2980 on Thursday. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 1.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The firm’s 50-day moving average is $49.74 and its 200 day moving average is $54.92.

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

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.7%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 37.08%.

Molson Coors Beverage 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.