Molson Coors Beverage Company $TAP Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its holdings in Molson Coors Beverage Company (NYSE:TAP) by 22.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 931 shares of the company’s stock after selling 263 shares during the quarter. Farther Finance Advisors LLC’s holdings in Molson Coors Beverage were worth $45,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in Molson Coors Beverage by 414.3% in the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock worth $120,960,000 after acquiring an additional 1,600,748 shares during the last quarter. KBC Group NV lifted its holdings in shares of Molson Coors Beverage by 269.1% in the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company’s stock worth $75,329,000 after purchasing an additional 902,296 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Molson Coors Beverage by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock worth $274,144,000 after purchasing an additional 750,388 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Molson Coors Beverage by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock worth $251,442,000 after buying an additional 595,203 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in Molson Coors Beverage by 72.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company’s stock worth $84,024,000 after buying an additional 579,649 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Molson Coors Beverage in a research note on Saturday, September 27th. Barclays reiterated an “underweight” rating and set a $50.00 price objective (up from $49.00) on shares of Molson Coors Beverage in a research report on Friday, September 12th. Morgan Stanley decreased their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. Finally, Jefferies Financial Group cut their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, September 30th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.88.

Molson Coors Beverage Price Performance

TAP stock opened at $45.67 on Tuesday. Molson Coors Beverage Company has a one year low of $43.80 and a one year high of $64.66. The firm has a 50-day moving average of $48.89 and a two-hundred day moving average of $52.44. The firm has a market capitalization of $9.03 billion, a PE ratio of 9.01, a P/E/G ratio of 1.69 and a beta of 0.63. 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 quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating 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 business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm earned $1.92 EPS. The firm’s quarterly 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, analysts forecast 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 announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, September 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is 37.08%.

Molson Coors Beverage Company 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.