QRG Capital Management Inc. Sells 49,427 Shares of Molson Coors Beverage Company $TAP

QRG Capital Management Inc. trimmed its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 84.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,791 shares of the company’s stock after selling 49,427 shares during the period. QRG Capital Management Inc.’s holdings in Molson Coors Beverage were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Molson Coors Beverage by 0.4% during the second quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock valued at $1,019,934,000 after purchasing an additional 92,058 shares during the last quarter. Dodge & Cox raised its position in shares of Molson Coors Beverage by 2.3% during the 2nd quarter. Dodge & Cox now owns 14,396,195 shares of the company’s stock valued at $692,313,000 after buying an additional 327,885 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Molson Coors Beverage by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,486,791 shares of the company’s stock valued at $214,860,000 after acquiring an additional 61,060 shares during the last quarter. Invesco Ltd. increased its stake in Molson Coors Beverage by 17.2% during the second quarter. Invesco Ltd. now owns 4,277,685 shares of the company’s stock worth $205,714,000 after acquiring an additional 626,639 shares during the last quarter. Finally, Norges Bank purchased a new stake in Molson Coors Beverage during the second quarter valued at approximately $134,289,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In related news, Director David S. Coors purchased 2,245 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were acquired at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the acquisition, the director owned 30,586 shares of the company’s stock, valued at $1,360,159.42. The trade was a 7.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew Thomas Molson acquired 7,500 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $46.79 per share, with a total value of $350,925.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.71% of the stock is currently owned by company insiders.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $49.34 on Friday. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $47.21 and a two-hundred day simple moving average of $47.80. The stock has a market capitalization of $9.75 billion, a price-to-earnings ratio of -4.62 and a beta of 0.45.

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 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 fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a dividend of $0.47 per share. The ex-dividend date was Friday, December 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.8%. Molson Coors Beverage’s dividend payout ratio is currently -17.60%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TAP shares. Piper Sandler cut their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. BNP Paribas Exane lowered shares of Molson Coors Beverage from a “hold” rating to a “strong sell” rating and set a $40.00 target price for the company. in a report on Friday, January 16th. Evercore ISI reduced their price objective on shares of Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. The Goldman Sachs Group decreased their price objective on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 price target (down from $53.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 19th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average target price of $53.18.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.