EP Wealth Advisors LLC Takes $200,000 Position in Molson Coors Beverage Company $TAP

EP Wealth Advisors LLC purchased a new stake in shares of Molson Coors Beverage Company (NYSE:TAP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,289 shares of the company’s stock, valued at approximately $200,000.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC raised its holdings in shares of Molson Coors Beverage by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock valued at $25,000 after acquiring an additional 290 shares during the period. Millstone Evans Group LLC increased its stake in Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock valued at $26,000 after buying an additional 255 shares during the period. Elequin Capital LP acquired a new position in Molson Coors Beverage in the 1st quarter valued at approximately $30,000. Financial Management Professionals Inc. increased its stake in Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company’s stock valued at $31,000 after buying an additional 493 shares during the period. Finally, Eastern Bank acquired a new position in Molson Coors Beverage in the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE TAP opened at $49.05 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $50.26 and a 200 day simple moving average of $54.28. The company has a market cap of $9.70 billion, a P/E ratio of 9.68, a P/E/G ratio of 1.80 and a beta of 0.69. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, sell-side analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage’s dividend payout ratio is currently 37.08%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TAP shares. Sanford C. Bernstein dropped their price objective on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 9th. Roth Capital set a $71.00 price objective on shares of Molson Coors Beverage and gave the company a “buy” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, July 31st. Piper Sandler dropped their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set a “neutral” rating on the stock in a research note on Monday, June 23rd. 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 research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average price target of $58.12.

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.