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

Principal Financial Group Inc. reduced its stake in Molson Coors Beverage Company (NYSE:TAP) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 197,688 shares of the company’s stock after selling 14,118 shares during the period. Principal Financial Group Inc.’s holdings in Molson Coors Beverage were worth $8,945,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of Molson Coors Beverage by 252.7% during the 3rd quarter. UMB Bank n.a. now owns 1,259 shares of the company’s stock valued at $57,000 after acquiring an additional 902 shares during the period. Howard Capital Management Inc. increased its position in shares of Molson Coors Beverage by 23.2% in the third quarter. Howard Capital Management Inc. now owns 7,712 shares of the company’s stock worth $349,000 after purchasing an additional 1,450 shares during the period. National Pension Service acquired a new position in Molson Coors Beverage in the third quarter valued at about $809,000. Arizona State Retirement System lifted its position in Molson Coors Beverage by 1.1% during the third quarter. Arizona State Retirement System now owns 52,473 shares of the company’s stock worth $2,374,000 after purchasing an additional 565 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Molson Coors Beverage by 2.4% during the third quarter. New York State Common Retirement Fund now owns 84,772 shares of the company’s stock worth $3,836,000 after buying an additional 1,956 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TAP. UBS Group boosted their target price on shares of Molson Coors Beverage from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Needham & Company LLC decreased their price objective on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Monday, December 29th. BNP Paribas Exane lowered 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 note on Friday, January 16th. Finally, Roth Mkm reissued a “buy” rating and set a $65.00 price target (down previously from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.18.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $54.27 on Friday. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of -5.08 and a beta of 0.48. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $48.34 and its 200-day moving average price is $47.80. Molson Coors Beverage Company has a 12 month low of $42.94 and a 12 month high of $64.66.

Molson Coors Beverage Dividend Announcement

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

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.