Cetera Investment Advisers Lowers Stock Holdings in Molson Coors Beverage Company $TAP

Cetera Investment Advisers lessened its holdings in Molson Coors Beverage Company (NYSE:TAP) by 38.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 26,632 shares of the company’s stock after selling 16,370 shares during the period. Cetera Investment Advisers’ holdings in Molson Coors Beverage were worth $1,281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. SG Americas Securities LLC boosted its stake in shares of Molson Coors Beverage by 14.6% in the second quarter. SG Americas Securities LLC now owns 22,775 shares of the company’s stock worth $1,095,000 after acquiring an additional 2,900 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Molson Coors Beverage by 6.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,020 shares of the company’s stock worth $2,021,000 after purchasing an additional 2,646 shares in the last quarter. Clearstead Trust LLC boosted its stake in Molson Coors Beverage by 952.8% in the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock worth $27,000 after purchasing an additional 505 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in Molson Coors Beverage by 2.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 26,020 shares of the company’s stock valued at $1,251,000 after buying an additional 726 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Molson Coors Beverage by 1.4% during the second quarter. Geode Capital Management LLC now owns 4,486,791 shares of the company’s stock valued at $214,860,000 after buying an additional 61,060 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $46.54 on Wednesday. The company’s 50-day moving average price is $45.81 and its 200-day moving average price is $48.74. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.20 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.45. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, equities research analysts forecast 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 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 yield of 4.0%. The ex-dividend date is Friday, December 5th. Molson Coors Beverage’s dividend payout ratio is presently -17.60%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TAP shares. Evercore ISI dropped their target price on shares of Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Roth Capital reiterated a “buy” rating and issued a $65.00 price target (down previously from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Jefferies Financial Group dropped their price objective on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. JPMorgan Chase & Co. began coverage on Molson Coors Beverage in a report on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 target price on the stock. Finally, UBS Group decreased their target price on Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.59.

Insiders Place Their Bets

In other news, Director David S. Coors purchased 2,245 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average cost of $44.47 per share, with a total value of $99,835.15. Following the purchase, the director owned 30,586 shares in the company, valued at approximately $1,360,159.42. This trade represents a 7.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew Thomas Molson purchased 7,500 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the acquisition, the director directly owned 22,654 shares in the company, valued at $1,059,980.66. The trade was a 49.49% increase in their position. The SEC filing for this purchase provides additional information. 2.71% of the stock is owned by company insiders.

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.