BI Asset Management Fondsmaeglerselskab A S Lowers Stock Holdings in Molson Coors Beverage Company $TAP

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Molson Coors Beverage Company by 54.4%, now holding 15,733 shares valued at approximately $958,000.
• Several analysts have lowered their price targets for Molson Coors, with the consensus target now at $58.12 and an overall rating of "Hold".
• The company recently announced a quarterly dividend of $0.47, translating to an annual yield of 3.6% for shareholders of record.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 54.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,733 shares of the company's stock after selling 18,735 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Molson Coors Beverage were worth $958,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Hsbc Holdings PLC raised its holdings in Molson Coors Beverage by 32.8% in the 1st quarter. Hsbc Holdings PLC now owns 466,666 shares of the company's stock worth $28,424,000 after purchasing an additional 115,186 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in Molson Coors Beverage by 69.8% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 22,625 shares of the company's stock worth $1,377,000 after purchasing an additional 9,300 shares during the period. Quantbot Technologies LP acquired a new position in Molson Coors Beverage in the 1st quarter worth about $2,760,000. Wellington Management Group LLP raised its holdings in Molson Coors Beverage by 32.3% in the 1st quarter. Wellington Management Group LLP now owns 6,839 shares of the company's stock worth $416,000 after purchasing an additional 1,670 shares during the period. Finally, Brooklyn Investment Group raised its holdings in Molson Coors Beverage by 344.7% in the 1st quarter. Brooklyn Investment Group now owns 1,632 shares of the company's stock worth $99,000 after purchasing an additional 1,265 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Analysts Set New Price Targets

TAP has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" 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 reduced their target price for the company from $65.00 to $50.00 in a report on Friday, June 27th. The Goldman Sachs Group reduced their target price on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Needham & Company LLC reduced 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. Finally, Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $58.12.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded up $0.90 during midday trading on Wednesday, hitting $51.23. The company had a trading volume of 907,940 shares, compared to its average volume of 2,449,928. Molson Coors Beverage Company has a twelve month low of $46.94 and a twelve month high of $64.66. 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 stock has a market cap of $10.36 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.88 and a beta of 0.67. The business's 50-day simple moving average is $49.85 and its 200-day simple moving average is $54.87.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.22. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a $0.47 dividend. 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 is presently 37.08%.

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.