Molson Coors Beverage Company $TAP Shares Sold by Amundi

Key Points

• Amundi reduced its holdings in Molson Coors Beverage by 25%, selling 254,296 shares to own approximately 762,934 shares valued at $47.7 million.
• The company reported $2.05 earnings per share for the last quarter, exceeding estimates of $1.83, while revenue was $3.20 billion, surpassing expectations of $3.12 billion.
• Molson Coors Beverage announced a quarterly dividend of $0.47 per share, corresponding to an annualized yield of 3.7%.

Amundi lessened its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 762,934 shares of the company's stock after selling 254,296 shares during the period. Amundi owned approximately 0.38% of Molson Coors Beverage worth $47,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TAP. Baird Financial Group Inc. raised its holdings in shares of Molson Coors Beverage by 5.9% during the fourth quarter. Baird Financial Group Inc. now owns 35,375 shares of the company's stock worth $2,028,000 after purchasing an additional 1,978 shares during the last quarter. CoreCap Advisors LLC grew its position in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after buying an additional 643 shares during the period. Ethic Inc. grew its position in Molson Coors Beverage by 17.0% during the fourth quarter. Ethic Inc. now owns 61,944 shares of the company's stock valued at $3,551,000 after buying an additional 9,023 shares during the period. Investment Management Corp of Ontario grew its position in Molson Coors Beverage by 13.5% during the fourth quarter. Investment Management Corp of Ontario now owns 31,492 shares of the company's stock valued at $1,805,000 after buying an additional 3,755 shares during the period. Finally, Invenomic Capital Management LP grew its position in Molson Coors Beverage by 25.6% during the fourth quarter. Invenomic Capital Management LP now owns 652,121 shares of the company's stock valued at $37,380,000 after buying an additional 132,744 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Piper Sandler dropped their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, June 23rd. Needham & Company LLC dropped their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Evercore ISI dropped their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group dropped their target price on shares of Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $58.12.

Molson Coors Beverage Price Performance

TAP traded down $0.40 on Wednesday, reaching $49.05. 2,613,892 shares of the company's stock were exchanged, compared to its average volume of 2,438,618. The stock has a market cap of $9.70 billion, a PE ratio of 9.68, a P/E/G ratio of 1.82 and a beta of 0.69. Molson Coors Beverage Company has a twelve month low of $46.94 and a twelve month high of $64.66. The stock's fifty day moving average price is $50.27 and its 200-day moving average price is $54.32. 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 (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, topping analysts' consensus estimates of $1.83 by $0.22. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage's quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Sell-side analysts expect 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 given a dividend of $0.47 per share. The ex-dividend date is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.8%. Molson Coors Beverage's 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.