Molson Coors Beverage Company $TAP Shares Sold by Aberdeen Group plc

Aberdeen Group plc lowered its holdings in Molson Coors Beverage Company (NYSE:TAP) by 78.2% during the first quarter, Holdings Channel reports. The fund owned 168,002 shares of the company’s stock after selling 601,232 shares during the quarter. Aberdeen Group plc’s holdings in Molson Coors Beverage were worth $10,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TAP. Golden State Wealth Management LLC increased its stake in shares of Molson Coors Beverage by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock worth $25,000 after acquiring an additional 290 shares during the period. Millstone Evans Group LLC boosted its holdings in Molson Coors Beverage by 151.8% during 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. Financial Management Professionals Inc. boosted its holdings in Molson Coors Beverage by 3,286.7% during 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 in the last quarter. Eastern Bank purchased a new stake in Molson Coors Beverage during the first quarter worth $33,000. Finally, CoreCap Advisors LLC boosted its holdings in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after buying an additional 643 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analysts Set New Price Targets

TAP has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating on the stock in a report on Wednesday, July 9th. Wells Fargo & Company lowered their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, June 25th. UBS Group lowered their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. Finally, Citigroup reduced their price objective on shares of Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $58.12.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $51.4950 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The company has a fifty day moving average of $49.75 and a two-hundred day moving average of $54.94. The stock has a market capitalization of $10.41 billion, a PE ratio of 10.16, a P/E/G ratio of 1.86 and a beta of 0.67. Molson Coors Beverage Company has a fifty-two week low of $46.94 and a fifty-two week high of $64.66.

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

Molson Coors Beverage Dividend Announcement

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