Autumn Glory Partners LLC Grows Stock Position in Molson Coors Beverage Company $TAP

Key Points

• Autumn Glory Partners LLC increased its stake in Molson Coors Beverage Company (NYSE:TAP) by 146.1% during the second quarter, owning 10,670 shares worth approximately $513,000.
• The company reported an earnings per share (EPS) of $2.05 for the last quarter, surpassing estimates while experiencing a 1.6% decline in revenue compared to the previous year.
• Molson Coors has declared a quarterly dividend of $0.47 per share, yielding 4.1% annually, with a payout ratio of 37.08%.

Autumn Glory Partners LLC grew its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 146.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,670 shares of the company's stock after buying an additional 6,335 shares during the period. Autumn Glory Partners LLC's holdings in Molson Coors Beverage were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Procyon Advisors LLC purchased a new stake in shares of Molson Coors Beverage during the first quarter worth approximately $996,000. OLD National Bancorp IN acquired a new stake in Molson Coors Beverage in the first quarter valued at $212,000. Park Avenue Securities LLC boosted its position in shares of Molson Coors Beverage by 39.8% in the 1st quarter. Park Avenue Securities LLC now owns 17,009 shares of the company's stock worth $1,035,000 after buying an additional 4,846 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Molson Coors Beverage by 4.1% in the 1st quarter. Wedge Capital Management L L P NC now owns 543,519 shares of the company's stock worth $33,084,000 after buying an additional 21,549 shares in the last quarter. Finally, Signet Financial Management LLC purchased a new position in Molson Coors Beverage during the first quarter worth $338,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

TAP opened at $46.40 on Monday. The firm has a market cap of $9.17 billion, a PE ratio of 9.15, a P/E/G ratio of 1.69 and a beta of 0.63. 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 business has a fifty day simple moving average of $48.98 and a 200-day simple moving average of $52.53. Molson Coors Beverage Company has a fifty-two week low of $43.80 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.83 by $0.22. The business 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 revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, equities analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is 37.08%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TAP shares. Weiss Ratings restated a "hold (c-)" rating on shares of Molson Coors Beverage in a report on Saturday, September 27th. Sanford C. Bernstein cut their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a report on Wednesday, July 9th. 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 research note on Tuesday, July 15th. Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their price target for the stock from $65.00 to $50.00 in a research note on Friday, June 27th. Finally, Morgan Stanley cut their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $56.88.

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.

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