Signaturefd LLC Increases Holdings in Molson Coors Beverage Company $TAP

Signaturefd LLC grew its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 79.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,861 shares of the company’s stock after buying an additional 1,270 shares during the quarter. Signaturefd LLC’s holdings in Molson Coors Beverage were worth $138,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Molson Coors Beverage by 14.7% during the 1st quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock valued at $14,498,000 after buying an additional 30,463 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Molson Coors Beverage during the 1st quarter valued at about $22,253,000. Kendall Capital Management raised its position in shares of Molson Coors Beverage by 42.7% during the 1st quarter. Kendall Capital Management now owns 19,995 shares of the company’s stock valued at $1,217,000 after buying an additional 5,985 shares in the last quarter. Jump Financial LLC raised its position in shares of Molson Coors Beverage by 205.4% during the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after buying an additional 16,349 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Molson Coors Beverage by 7.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company’s stock valued at $1,352,000 after buying an additional 1,606 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TAP shares. Barclays reiterated an “underweight” rating and set a $50.00 price target (up from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Bank of America downgraded shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and cut their price target for the company from $65.00 to $50.00 in a report on Friday, June 27th. Citigroup cut their price target on shares of Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Molson Coors Beverage in a report on Saturday, September 27th. Finally, Wells Fargo & Company cut their price target on shares of Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $56.88.

Molson Coors Beverage Trading Up 0.5%

NYSE TAP opened at $46.40 on Friday. The company has a fifty day simple moving average of $48.98 and a two-hundred day simple moving average of $52.62. The stock has a market cap of $9.17 billion, a P/E ratio of 9.15, a P/E/G ratio of 1.68 and a beta of 0.63. Molson Coors Beverage Company has a 12-month low of $43.80 and a 12-month high of $64.66. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results 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 net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter last year, the company posted $1.92 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a $0.47 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.88 annualized dividend and a dividend yield of 4.1%. Molson Coors Beverage’s dividend payout ratio (DPR) is 37.08%.

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.