Alliancebernstein L.P. Purchases 49,133 Shares of Molson Coors Beverage Company $TAP

Key Points

• Alliancebernstein L.P. increased its holdings in Molson Coors Beverage Company by 21.0% during the first quarter, now owning approximately 282,735 shares valued at $17.21 million.
• The company reported a quarterly EPS of $2.05, surpassing analysts' expectations, and had a revenue of $3.20 billion, although it represented a 1.6% decline year-over-year.
• Molson Coors announced a quarterly dividend of $0.47, with a yield of 3.8% and a payout ratio of approximately 37.08%.

Alliancebernstein L.P. boosted its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 21.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 282,735 shares of the company's stock after purchasing an additional 49,133 shares during the period. Alliancebernstein L.P. owned about 0.14% of Molson Coors Beverage worth $17,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its stake in Molson Coors Beverage by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after buying an additional 290 shares during the last quarter. Millstone Evans Group LLC grew its position in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after acquiring an additional 255 shares during the last quarter. Elequin Capital LP acquired a new stake in Molson Coors Beverage during the 1st quarter valued at $30,000. Financial Management Professionals Inc. increased its holdings in Molson Coors Beverage by 3,286.7% during the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after purchasing an additional 493 shares in the last quarter. Finally, Eastern Bank bought a new position in Molson Coors Beverage in the 1st quarter valued at $33,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $49.14 on Friday. The firm's 50 day moving average price is $50.26 and its two-hundred day moving average price is $54.20. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66. The stock has a market cap of $9.72 billion, a PE ratio of 9.69, a PEG ratio of 1.79 and a beta of 0.69.

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

Molson Coors Beverage Dividend Announcement

The business also recently disclosed 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. This represents a $1.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TAP shares. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the company a "buy" rating in a research note on Tuesday, May 20th. Wells Fargo & Company lowered their price objective on shares of 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. Citigroup dropped their target price on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Bank of America cut shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and decreased their price target for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus price target of $58.12.

About Molson Coors Beverage

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.

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