1834 Investment Advisors Co. Purchases Shares of 11,831 Molson Coors Beverage Company $TAP

Key Points

• 1834 Investment Advisors Co. has acquired 11,831 shares of Molson Coors Beverage Company, valued at approximately $569,000, marking a significant new position in the company.
• Molson Coors recently reported a Q2 earnings per share (EPS) of $2.05, exceeding expectations, along with a revenue of $3.20 billion, though down 1.6% year-over-year.
• The company announced a quarterly dividend of $0.47 per share, with a yield of 4.2% and a payout ratio of 37.08%.

1834 Investment Advisors Co. purchased a new stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,831 shares of the company's stock, valued at approximately $569,000.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in shares of Molson Coors Beverage by 14.7% in the 1st quarter. Principal Financial Group Inc. now owns 238,178 shares of the company's stock worth $14,498,000 after buying an additional 30,463 shares during the last quarter. Nuveen LLC purchased a new position in shares of Molson Coors Beverage in the 1st quarter worth approximately $22,253,000. Kendall Capital Management boosted its stake in shares of Molson Coors Beverage by 42.7% in the 1st quarter. Kendall Capital Management now owns 19,995 shares of the company's stock worth $1,217,000 after buying an additional 5,985 shares during the last quarter. Jump Financial LLC boosted its stake in shares of Molson Coors Beverage by 205.4% in the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company's stock worth $1,480,000 after buying an additional 16,349 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Molson Coors Beverage by 7.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company's stock worth $1,352,000 after buying an additional 1,606 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Trading Up 1.0%

Shares of TAP stock opened at $44.87 on Friday. The company's fifty day simple moving average is $49.50 and its two-hundred day simple moving average is $53.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage Company has a 1 year low of $43.80 and a 1 year high of $64.66. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.62 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, analysts anticipate 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. Shareholders of record on Friday, September 5th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.2%. Molson Coors Beverage's payout ratio is presently 37.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TAP shares. Citigroup cut their target price on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Bank of America downgraded Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their target price for the stock from $65.00 to $50.00 in a research note on Friday, June 27th. UBS Group dropped their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Piper Sandler dropped their price objective on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a research note on Monday, June 23rd. Finally, Needham & Company LLC dropped their price objective on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $57.99.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.