Red Spruce Capital LLC Sells 447 Shares of Molson Coors Beverage Company $TAP

Red Spruce Capital LLC decreased its holdings in Molson Coors Beverage Company (NYSE:TAP) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,219 shares of the company’s stock after selling 447 shares during the quarter. Red Spruce Capital LLC’s holdings in Molson Coors Beverage were worth $1,213,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in Molson Coors Beverage by 414.3% in the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock valued at $120,960,000 after buying an additional 1,600,748 shares during the period. KBC Group NV lifted its holdings in Molson Coors Beverage by 269.1% in the first quarter. KBC Group NV now owns 1,237,539 shares of the company’s stock valued at $75,329,000 after buying an additional 902,296 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after buying an additional 750,388 shares during the period. Bank of New York Mellon Corp lifted its holdings in Molson Coors Beverage by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock valued at $251,442,000 after buying an additional 595,203 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Molson Coors Beverage by 72.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company’s stock valued at $84,024,000 after buying an additional 579,649 shares during the period. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein dropped their target price 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. Evercore ISI dropped their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Needham & Company LLC dropped their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. UBS Group cut their price objective on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company cut their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 25th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.18.

Molson Coors Beverage Trading Down 1.6%

NYSE:TAP opened at $48.36 on Monday. Molson Coors Beverage Company has a 52 week low of $46.94 and a 52 week high of $64.66. The firm has a 50-day moving average price of $50.24 and a two-hundred day moving average price of $54.01. 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 firm has a market cap of $9.56 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 5th. The company reported $2.05 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 analysts’ expectations of $3.12 billion. During the same quarter last year, the firm earned $1.92 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, equities analysts expect that Molson Coors Beverage Company will post 6.35 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 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, September 5th. This represents a $1.88 annualized dividend and a dividend yield of 3.9%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 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.