Molson Coors Beverage Company $TAP Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC has reduced its stake in Molson Coors Beverage Company (TAP) by 19.1%, now owning approximately 1.74% of the company, valued at $215.04 million.
• Several institutional investors have increased their stakes in Molson Coors, with Golden State Wealth Management LLC seeing a notable increase of 230.2%.
• The company reported quarterly earnings of $2.05 EPS, exceeding estimates, despite a 1.6% revenue decline from the previous year, and announced a quarterly dividend of $0.47 per share.

AQR Capital Management LLC reduced its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,532,756 shares of the company's stock after selling 836,618 shares during the period. AQR Capital Management LLC owned approximately 1.74% of Molson Coors Beverage worth $215,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Wells Fargo & Company lowered their price objective 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. Piper Sandler lowered their price objective on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday, June 23rd. Evercore ISI lowered their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Finally, Morgan Stanley lowered their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $58.12.

Molson Coors Beverage Stock Down 1.2%

Molson Coors Beverage stock traded down $0.58 during midday trading on Monday, reaching $49.81. The company's stock had a trading volume of 635,433 shares, compared to its average volume of 2,431,781. Molson Coors Beverage Company has a fifty-two week low of $46.94 and a fifty-two week high of $64.66. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.85 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.84 and a beta of 0.69. The business has a 50-day simple moving average of $50.23 and a 200-day simple moving average of $54.42.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping 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 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 earned $1.92 earnings per share. The business'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. On average, research analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders 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 of this dividend is Friday, September 5th. Molson Coors Beverage's payout ratio is currently 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.