Empowered Funds LLC Raises Stock Position in Molson Coors Beverage Company $TAP

Key Points

• Empowered Funds LLC increased its stake in Molson Coors Beverage Company by 14.7%, owning 209,071 shares valued at approximately $12.7 million as of the latest SEC filing.
• The company reported earnings of $2.05 per share, surpassing expectations, and had a quarterly revenue of $3.20 billion, which also exceeded analyst estimates.
• Molson Coors announced a quarterly dividend of $0.47 per share, representing a yield of 3.8%, with a payout ratio of 37.08%.

Empowered Funds LLC boosted its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 14.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,071 shares of the company's stock after purchasing an additional 26,719 shares during the quarter. Empowered Funds LLC owned about 0.10% of Molson Coors Beverage worth $12,726,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its position in shares of Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after buying an additional 290 shares during the last quarter. Millstone Evans Group LLC raised its stake in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after acquiring an additional 255 shares in the last quarter. Elequin Capital LP purchased a new stake in Molson Coors Beverage in the first quarter valued at $30,000. Financial Management Professionals Inc. lifted 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 valued at $31,000 after acquiring an additional 493 shares during the last quarter. Finally, Eastern Bank acquired a new position in Molson Coors Beverage in the first quarter valued at $33,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TAP shares. Piper Sandler cut their target price on 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. Wells Fargo & Company cut their price target on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. Needham & Company LLC lowered their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of 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, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $58.18.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP traded down $0.77 during midday trading on Friday, hitting $48.36. The stock had a trading volume of 2,467,288 shares, compared to its average volume of 1,949,229. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $50.24 and a two-hundred day moving average price of $54.11. The company has a market capitalization of $9.56 billion, a PE ratio of 9.54, a P/E/G ratio of 1.79 and a beta of 0.69.

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, beating 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 the consensus estimate of $3.12 billion. During the same quarter last year, the firm earned $1.92 earnings per share. The firm's 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 analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.47 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.9%. Molson Coors Beverage's dividend payout ratio is presently 37.08%.

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.