Public Employees Retirement System of Ohio Decreases Stock Holdings in Molson Coors Beverage Company $TAP

Public Employees Retirement System of Ohio reduced its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 1.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,187 shares of the company’s stock after selling 615 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Molson Coors Beverage were worth $2,702,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Wilsey Asset Management Inc. grew its stake in Molson Coors Beverage by 1.6% during the second quarter. Wilsey Asset Management Inc. now owns 563,440 shares of the company’s stock worth $27,096,000 after buying an additional 8,758 shares during the period. Accurate Wealth Management LLC purchased a new stake in Molson Coors Beverage during the second quarter worth approximately $2,569,000. Fifth Third Bancorp grew its stake in Molson Coors Beverage by 4.3% during the second quarter. Fifth Third Bancorp now owns 11,408 shares of the company’s stock worth $549,000 after buying an additional 469 shares during the period. Unified Investment Management grew its stake in Molson Coors Beverage by 1.8% during the second quarter. Unified Investment Management now owns 14,972 shares of the company’s stock worth $720,000 after buying an additional 271 shares during the period. Finally, Bank of Stockton grew its stake in Molson Coors Beverage by 14.4% during the second quarter. Bank of Stockton now owns 7,895 shares of the company’s stock worth $380,000 after buying an additional 992 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. 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 note on Thursday, September 25th. Evercore ISI decreased their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th. 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. UBS Group decreased their target price on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, Morgan Stanley decreased their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $57.46.

Molson Coors Beverage Trading Up 1.8%

TAP opened at $46.07 on Thursday. The stock has a market capitalization of $9.11 billion, a PE ratio of 9.09, a P/E/G ratio of 1.65 and a beta of 0.63. The firm’s fifty day moving average price is $49.17 and its 200 day moving average price is $52.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage Company has a 12-month low of $43.80 and a 12-month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.22. The firm 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 quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 4.1%. Molson Coors Beverage’s dividend payout ratio is currently 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.