Carolina Wealth Advisors LLC Boosts Holdings in Molson Coors Beverage Company $TAP

Key Points

• Carolina Wealth Advisors LLC significantly increased its stake in Molson Coors Beverage Company by 2,367.3% in the second quarter, now owning 97,039 shares valued at approximately $4.67 million.
• Multiple institutional investors have also raised their positions in Molson Coors Beverage, with Ameriprise Financial and KBC Group increasing their stakes by 414.3% and 269.1%, respectively, during the first quarter.
• Research analysts have adjusted their price targets for Molson Coors Beverage, with Citigroup reducing its target from $56.00 to $51.00 and Goldman Sachs lowering it from $67.00 to $57.00, while maintaining a "buy rating."

Carolina Wealth Advisors LLC lifted its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 2,367.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 97,039 shares of the company's stock after purchasing an additional 93,106 shares during the period. Molson Coors Beverage accounts for about 2.3% of Carolina Wealth Advisors LLC's investment portfolio, making the stock its 17th biggest holding. Carolina Wealth Advisors LLC's holdings in Molson Coors Beverage were worth $4,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TAP. Ameriprise Financial Inc. lifted its position in shares of Molson Coors Beverage by 414.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company's stock worth $120,960,000 after purchasing an additional 1,600,748 shares during the period. KBC Group NV lifted its position in shares of Molson Coors Beverage by 269.1% in the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company's stock worth $75,329,000 after purchasing an additional 902,296 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Molson Coors Beverage by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock worth $274,144,000 after purchasing an additional 750,388 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Molson Coors Beverage by 16.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock worth $251,442,000 after purchasing an additional 595,203 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Molson Coors Beverage by 72.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company's stock worth $84,024,000 after purchasing an additional 579,649 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TAP has been the subject of several research analyst reports. Citigroup dropped their target price on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. The Goldman Sachs Group lowered their price target on shares of Molson Coors Beverage from $67.00 to $57.00 and set a "buy" rating for the company in a research report on Thursday. Jefferies Financial Group lowered their price target on shares of Molson Coors Beverage from $52.00 to $50.00 and set a "hold" rating for the company in a research report on Tuesday, September 30th. Piper Sandler lowered their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a research report on Tuesday, September 30th. Finally, Bank of America cut 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. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and a consensus target price of $56.88.

Molson Coors Beverage Stock Up 0.5%

Shares of Molson Coors Beverage stock opened at $46.40 on Friday. 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 stock has a market capitalization of $9.17 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.63. Molson Coors Beverage Company has a 52-week low of $43.80 and a 52-week high of $64.66. The company has a 50-day simple moving average of $48.98 and a two-hundred day simple moving average of $52.58.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly 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 net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the business posted $1.92 earnings per share. The business's revenue for the quarter was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.47 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.1%. 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.

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