AlTi Global Inc. Acquires Shares of 84,063 Molson Coors Beverage Company $TAP

Key Points

• AlTi Global Inc. recently acquired 84,063 shares of Molson Coors Beverage Company, valued at approximately $5.12 million, indicating strong institutional interest in the stock.
• Analysts have lowered their price targets for Molson Coors, with Citigroup reducing its estimate from $56 to $51, while six analysts maintain a 'Buy' rating and ten have a 'Hold' rating.
• Molson Coors announced a quarterly dividend of $0.47 per share, representing a 3.7% dividend yield, with a payout ratio of 37.08%.

AlTi Global Inc. acquired a new stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 84,063 shares of the company's stock, valued at approximately $5,117,000.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after acquiring an additional 290 shares during the period. Millstone Evans Group LLC lifted its holdings in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after buying an additional 255 shares during the period. Elequin Capital LP purchased a new stake in shares of Molson Coors Beverage in the 1st quarter worth $30,000. Financial Management Professionals Inc. lifted its holdings in shares of Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after buying an additional 493 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Molson Coors Beverage in the 1st quarter worth $33,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 0.9%

Molson Coors Beverage stock traded up $0.46 during trading hours on Friday, reaching $50.37. The stock had a trading volume of 1,787,916 shares, compared to its average volume of 2,069,381. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.84 and a beta of 0.69. 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 business's 50 day moving average price is $50.23 and its 200-day moving average price is $54.47. Molson Coors Beverage Company has a 52 week low of $46.94 and a 52 week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS 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 during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the business posted $1.92 earnings per share. The firm's revenue 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. Sell-side analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.08%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TAP. Citigroup lowered their target price on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Wells Fargo & Company lowered their target price on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $65.00 to $50.00 in a report on Friday, June 27th. Piper Sandler lowered their target price on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a report on Monday, June 23rd. Finally, Needham & Company LLC lowered their target price on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Six 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 target price of $58.12.

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.