Molson Coors Beverage Company $TAP Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC lowered its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 15.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,524 shares of the company’s stock after selling 838 shares during the quarter. GAMMA Investing LLC’s holdings in Molson Coors Beverage were worth $218,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TAP. Golden State Wealth Management LLC boosted its position in Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock worth $25,000 after purchasing an additional 290 shares during the period. Millstone Evans Group LLC lifted its stake in shares of 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 purchasing an additional 255 shares in the last quarter. Elequin Capital LP acquired a new stake in shares of Molson Coors Beverage in the first quarter valued at about $30,000. Financial Management Professionals Inc. raised its holdings in shares of Molson Coors Beverage by 3,286.7% during 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 during the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on TAP shares. Evercore ISI reduced 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 research report on Wednesday, August 6th. Piper Sandler dropped their price target 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. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday. The Goldman Sachs Group dropped their target price on Molson Coors Beverage from $77.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. cut their price target on 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. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $57.99.

Molson Coors Beverage Price Performance

Shares of TAP opened at $44.87 on Monday. Molson Coors Beverage Company has a 12 month low of $43.80 and a 12 month high of $64.66. 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 fifty day moving average price of $49.50 and a 200 day moving average price of $52.99. The company has a market cap of $8.87 billion, a P/E ratio of 8.85, a PEG ratio of 1.63 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP) last issued 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. 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 the consensus estimate of $3.12 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, research analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.47 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.88 annualized dividend and a dividend yield of 4.2%. Molson Coors Beverage’s dividend payout ratio is 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.