Carmignac Gestion Takes Position in Molson Coors Beverage Company $TAP

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Carmignac Gestion purchased a new position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 377,462 shares of the company's stock, valued at approximately $22,976,000. Carmignac Gestion owned about 0.19% of Molson Coors Beverage as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its position in 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 acquiring an additional 290 shares during the period. Millstone Evans Group LLC raised its position in Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after acquiring an additional 255 shares during the period. Elequin Capital LP bought a new stake in Molson Coors Beverage in the first quarter worth about $30,000. Financial Management Professionals Inc. raised its position in Molson Coors Beverage by 3,286.7% in the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after acquiring an additional 493 shares during the period. Finally, Eastern Bank bought a new stake in Molson Coors Beverage in the first quarter worth about $33,000. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

NYSE TAP traded up $1.0350 on Friday, hitting $52.7750. The stock had a trading volume of 1,717,425 shares, compared to its average volume of 2,800,801. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.88 and a beta of 0.67. The firm has a 50-day moving average of $49.79 and a 200-day moving average of $54.91.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the company posted $1.92 EPS. The business's revenue for the quarter 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. Equities analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.47 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.6%. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Analysts Set New Price Targets

Several brokerages have commented on TAP. Morgan Stanley lowered their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler lowered 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. Barclays lowered their price target on shares of Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price target for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Finally, Evercore ISI lowered 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. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Molson Coors Beverage presently has an average rating of "Hold" and an average target price 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.