Ariel Investments LLC Decreases Stock Holdings in Molson Coors Beverage Company $TAP

Ariel Investments LLC lessened its holdings in Molson Coors Beverage Company (NYSE:TAP) by 6.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 467,331 shares of the company’s stock after selling 30,393 shares during the period. Ariel Investments LLC owned about 0.23% of Molson Coors Beverage worth $22,474,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Molson Coors Beverage by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,704,932 shares of the company’s stock worth $103,779,000 after purchasing an additional 20,311 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Molson Coors Beverage during the 1st quarter valued at about $70,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Molson Coors Beverage during the 1st quarter valued at about $2,091,000. Entropy Technologies LP acquired a new position in Molson Coors Beverage during the 1st quarter worth approximately $911,000. Finally, Nuveen LLC purchased a new position in Molson Coors Beverage in the 1st quarter worth approximately $22,253,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Insider Transactions at Molson Coors Beverage

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Needham & Company LLC lowered their price objective 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. Evercore ISI lowered their price target on shares of Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Roth Capital reaffirmed a “buy” rating and set a $65.00 price target (down previously from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. The Goldman Sachs Group cut 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. Finally, UBS Group decreased their price objective on shares of Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.59.

Molson Coors Beverage Trading Down 3.1%

NYSE:TAP opened at $45.18 on Wednesday. The company has a market cap of $8.93 billion, a PE ratio of -4.23 and a beta of 0.45. The business’s 50 day moving average is $45.87 and its two-hundred day moving average is $48.40. The company has a quick ratio of 0.45, a current ratio of 0.60 and a debt-to-equity ratio of 0.37. Molson Coors Beverage Company has a 52 week low of $42.94 and a 52 week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). Molson Coors Beverage had a negative net margin of 15.89% and a positive return on equity of 8.78%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, December 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -17.60%.

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.