Baird Financial Group Inc. Sells 11,887 Shares of Molson Coors Beverage Company $TAP

Key Points

• Baird Financial Group Inc. has reduced its stake in Molson Coors Beverage Company by 33.6%, selling 11,887 shares during the first quarter, leaving them with 23,488 shares valued at approximately $1.43 million.
• The company reported earnings of $2.05 EPS for the recent quarter, exceeding analyst expectations of $1.83, with revenues reaching $3.20 billion despite a 1.6% decrease compared to the previous year's same quarter.
• Molson Coors recently announced a quarterly dividend of $0.47 per share, representing an annualized dividend of $1.88 and a yield of 3.8%, with a payout ratio of 37.08%.

Baird Financial Group Inc. lessened its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 33.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,488 shares of the company's stock after selling 11,887 shares during the quarter. Baird Financial Group Inc.'s holdings in Molson Coors Beverage were worth $1,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Twin Capital Management Inc. lifted its position in shares of Molson Coors Beverage by 0.7% during the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock worth $1,509,000 after buying an additional 180 shares during the period. ProShare Advisors LLC lifted its position in shares of Molson Coors Beverage by 0.4% during the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after buying an additional 206 shares during the period. Callan Family Office LLC increased its holdings in Molson Coors Beverage by 5.0% during the 1st quarter. Callan Family Office LLC now owns 4,426 shares of the company's stock valued at $269,000 after purchasing an additional 209 shares in the last quarter. Forum Financial Management LP increased its holdings in Molson Coors Beverage by 4.4% during the 4th quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock valued at $299,000 after purchasing an additional 220 shares in the last quarter. Finally, Millstone Evans Group LLC increased its holdings in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Down 0.9%

TAP stock opened at $49.93 on Tuesday. The company has a market cap of $10.09 billion, a P/E ratio of 9.85, a PEG ratio of 1.84 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 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 moving average of $50.26 and a 200-day moving average of $54.35.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. The firm's quarterly 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. As a group, equities research analysts expect 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 paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.8%. Molson Coors Beverage's payout ratio is 37.08%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TAP shares. Needham & Company LLC dropped their price target 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. Evercore ISI dropped their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their price target for the company from $65.00 to $50.00 in a report on Friday, June 27th. Piper Sandler dropped their price target 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, Sanford C. Bernstein dropped their price target on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a report on Wednesday, July 9th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and an average 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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