CX Institutional Decreases Stock Position in Molson Coors Beverage Company $TAP

CX Institutional trimmed its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 76.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,024 shares of the company’s stock after selling 3,338 shares during the period. CX Institutional’s holdings in Molson Coors Beverage were worth $49,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Molson Coors Beverage by 14.7% in the 1st quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock worth $14,498,000 after buying an additional 30,463 shares during the last quarter. Nuveen LLC purchased a new position in shares of Molson Coors Beverage during the first quarter valued at approximately $22,253,000. Kendall Capital Management lifted its position in Molson Coors Beverage by 42.7% during the first quarter. Kendall Capital Management now owns 19,995 shares of the company’s stock valued at $1,217,000 after purchasing an additional 5,985 shares during the period. Jump Financial LLC boosted its holdings in Molson Coors Beverage by 205.4% in the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock worth $1,480,000 after purchasing an additional 16,349 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Molson Coors Beverage by 7.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company’s stock worth $1,352,000 after purchasing an additional 1,606 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

TAP has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday. Piper Sandler dropped their target price on Molson Coors Beverage from $58.00 to $53.00 and set a “neutral” rating on the stock in a research report on Monday, June 23rd. UBS Group reduced their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research 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. Finally, Morgan Stanley dropped their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $57.99.

Molson Coors Beverage Stock Down 2.0%

TAP opened at $44.42 on Friday. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 8.76, a price-to-earnings-growth ratio of 1.65 and a beta of 0.69. 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’s fifty day moving average is $49.60 and its 200 day moving average is $53.18. Molson Coors Beverage Company has a fifty-two week low of $43.80 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business posted $1.92 EPS. Molson Coors Beverage’s revenue for the quarter 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, sell-side 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 declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, September 5th. Molson Coors Beverage’s dividend payout ratio is presently 37.08%.

About Molson Coors Beverage

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.