Molson Coors Beverage Company $TAP Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,292 shares of the company’s stock after selling 11,627 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.06% of Molson Coors Beverage worth $6,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TAP. Empirical Finance LLC grew its position in Molson Coors Beverage by 53.2% in the second quarter. Empirical Finance LLC now owns 25,109 shares of the company’s stock worth $1,207,000 after buying an additional 8,718 shares during the last quarter. Traub Capital Management LLC bought a new stake in shares of Molson Coors Beverage during the 2nd quarter worth $430,000. Vanguard Group Inc. grew its holdings in shares of Molson Coors Beverage by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock worth $1,019,934,000 after acquiring an additional 92,058 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Molson Coors Beverage by 0.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 61,496 shares of the company’s stock worth $2,957,000 after purchasing an additional 538 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Molson Coors Beverage during the second quarter valued at $845,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Performance

TAP stock opened at $46.09 on Friday. The firm has a 50 day simple moving average of $45.79 and a 200 day simple moving average of $49.28. Molson Coors Beverage Company has a 52 week low of $42.94 and a 52 week high of $64.66. The stock has a market cap of $9.11 billion, a P/E ratio of 9.09, a P/E/G ratio of 1.60 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, December 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -17.60%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Zacks Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Roth Capital reissued a “buy” rating and issued a $65.00 target price (down from $67.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 5th. Needham & Company LLC reduced their price target on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $50.00 price objective (down previously from $53.00) on shares of Molson Coors Beverage in a research note on Wednesday. Finally, Sanford C. Bernstein cut their target price on shares of Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $54.24.

Insiders Place Their Bets

In other news, Director David S. Coors purchased 2,245 shares of Molson Coors Beverage stock in a transaction dated Wednesday, November 5th. The stock was acquired at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the acquisition, the director directly owned 30,586 shares in the company, valued at $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew Thomas Molson purchased 7,500 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $46.79 per share, with a total value of $350,925.00. Following the purchase, the director owned 22,654 shares in the company, valued at $1,059,980.66. This represents a 49.49% increase in their position. The SEC filing for this purchase provides additional information. 2.71% of the stock is currently owned by company insiders.

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.