Principal Financial Group Inc. Has $8.95 Million Stock Holdings in Molson Coors Beverage Company $TAP

Principal Financial Group Inc. decreased its stake in Molson Coors Beverage Company (NYSE:TAP) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,688 shares of the company’s stock after selling 14,118 shares during the period. Principal Financial Group Inc. owned 0.10% of Molson Coors Beverage worth $8,945,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Molson Coors Beverage in the second quarter valued at approximately $134,289,000. Royal London Asset Management Ltd. raised its stake in shares of Molson Coors Beverage by 317.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock worth $98,297,000 after purchasing an additional 1,554,851 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Molson Coors Beverage in the 2nd quarter valued at approximately $38,377,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Molson Coors Beverage by 2,728.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 730,153 shares of the company’s stock valued at $35,113,000 after buying an additional 704,334 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Molson Coors Beverage by 17.2% during the second quarter. Invesco Ltd. now owns 4,277,685 shares of the company’s stock worth $205,714,000 after buying an additional 626,639 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Monday, December 29th. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Wells Fargo & Company reiterated an “equal weight” rating and set a $50.00 price target (down previously from $53.00) on shares of Molson Coors Beverage in a report on Wednesday, November 19th. BNP Paribas Exane downgraded Molson Coors Beverage from a “hold” rating to a “strong sell” rating and set a $40.00 price target on the stock. in a research report on Friday, January 16th. Finally, UBS Group raised their price objective on Molson Coors Beverage from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $53.18.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $54.27 on Friday. The stock has a 50 day simple moving average of $48.34 and a 200 day simple moving average of $47.80. The stock has a market cap of $10.72 billion, a P/E ratio of -5.08 and a beta of 0.48. Molson Coors Beverage Company has a 1-year low of $42.94 and a 1-year high of $64.66. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, December 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -17.60%.

Molson Coors Beverage Company Profile

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.