Swedbank AB Decreases Stake in Molson Coors Beverage Company $TAP

Swedbank AB lessened its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 0.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,043 shares of the company’s stock after selling 285 shares during the quarter. Swedbank AB’s holdings in Molson Coors Beverage were worth $4,523,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TAP. Golden State Wealth Management LLC lifted 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 buying an additional 290 shares in the last quarter. Millstone Evans Group LLC grew its holdings in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares in the last quarter. Elequin Capital LP purchased a new stake in shares of Molson Coors Beverage during the 1st quarter worth approximately $30,000. Financial Management Professionals Inc. raised its position 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 purchasing an additional 493 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Molson Coors Beverage in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.7%

TAP stock opened at $46.55 on Monday. The company has a fifty day moving average price of $49.99 and a two-hundred day moving average price of $53.55. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 1.70 and a beta of 0.69. Molson Coors Beverage Company has a one year low of $46.35 and a one year 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, topping analysts’ consensus estimates of $1.83 by $0.22. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Equities analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TAP. Needham & Company LLC lowered their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Bank of America downgraded shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Barclays reiterated an “underweight” rating and issued a $50.00 target price (up from $49.00) on shares of Molson Coors Beverage in a research note on Friday, September 12th. Piper Sandler cut 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, UBS Group cut their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.18.

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.