Molson Coors Beverage Company $TAP Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lessened its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 56.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,725 shares of the company’s stock after selling 7,393 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Molson Coors Beverage were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Twin Capital Management Inc. boosted its holdings in Molson Coors Beverage by 0.7% during the first quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock worth $1,509,000 after buying an additional 180 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after buying an additional 198 shares in the last quarter. Callan Family Office LLC boosted its holdings in Molson Coors Beverage by 5.0% during the first quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after buying an additional 209 shares in the last quarter. Forum Financial Management LP boosted its holdings in Molson Coors Beverage by 4.4% during the fourth quarter. Forum Financial Management LP now owns 5,210 shares of the company’s stock worth $299,000 after buying an additional 220 shares in the last quarter. Finally, 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. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.7%

Shares of TAP opened at $46.55 on Monday. The company has a 50-day simple moving average of $49.99 and a 200-day simple moving average of $53.55. The firm has a market capitalization of $9.20 billion, a P/E ratio of 9.18, a P/E/G ratio of 1.70 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. Molson Coors Beverage Company has a 52 week low of $46.35 and a 52 week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.22. The business had revenue of $3.20 billion for 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 quarter in the previous year, the firm posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, equities research analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, September 5th. Molson Coors Beverage’s dividend payout ratio is currently 37.08%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group lowered 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. Morgan Stanley lowered 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 report on Wednesday, August 6th. Bank of America cut shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Needham & Company LLC lowered 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 research report on Wednesday, August 6th. Finally, Sanford C. Bernstein decreased their target price on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, July 9th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $58.18.

Molson Coors Beverage 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.