Aberdeen Group plc Cuts Stock Holdings in Molson Coors Beverage Company $TAP

Key Points

• Aberdeen Group plc significantly reduced its stake in Molson Coors by selling 601,232 shares, lowering its holdings by 78.2% in the first quarter.
• Several analysts have downgraded Molson Coors' stock ratings, with Bank of America moving from "buy" to "neutral" and reducing the price target from $65.00 to $50.00.
• Molson Coors declared a quarterly dividend of $0.47 per share, representing an annual yield of 3.7%, with the payment scheduled for September 19th.

Aberdeen Group plc trimmed its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 78.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,002 shares of the company's stock after selling 601,232 shares during the period. Aberdeen Group plc owned 0.08% of Molson Coors Beverage worth $10,257,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Randolph Co Inc boosted its position in shares of Molson Coors Beverage by 26.2% in the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company's stock worth $27,352,000 after purchasing an additional 98,984 shares in the last quarter. Principal Financial Group Inc. boosted its position 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 purchasing an additional 30,463 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Molson Coors Beverage in the 1st quarter worth $22,253,000. Kendall Capital Management boosted its position 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 purchasing an additional 5,985 shares in the last quarter. Finally, Estuary Capital Management LP acquired a new stake in shares of Molson Coors Beverage in the 4th quarter worth $39,052,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TAP shares. Barclays lowered their price objective on Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. UBS Group lowered their price target on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Roth Capital set a $71.00 price target on Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Finally, Wells Fargo & Company lowered their price target on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $58.12.

Molson Coors Beverage Price Performance

NYSE TAP traded up $1.0350 during trading hours on Friday, reaching $52.7750. The company's stock had a trading volume of 1,717,425 shares, compared to its average volume of 2,800,801. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 1.88 and a beta of 0.67. Molson Coors Beverage Company has a 1-year low of $46.94 and a 1-year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The company's 50-day moving average is $49.79 and its two-hundred day moving average is $54.91.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. The company had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.Molson Coors Beverage's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, equities analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.6%. Molson Coors Beverage's dividend payout ratio is presently 37.08%.

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.