Estuary Capital Management LP Sells 600,191 Shares of Molson Coors Beverage Company $TAP

Key Points

• Estuary Capital Management LP sold 600,191 shares of Molson Coors Beverage, reducing its holdings by 88.1%, leaving it with 81,109 shares worth approximately $4.9 million.
• Molson Coors Beverage recently reported quarterly earnings of $2.05 per share, beating estimates and has set FY 2025 guidance between $5.360 and $5.540 EPS.
• The company has announced a quarterly dividend of $0.47 per share, which offers a yield of 3.8%, with an ex-dividend date of September 5th.

Estuary Capital Management LP trimmed its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 88.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,109 shares of the company's stock after selling 600,191 shares during the quarter. Molson Coors Beverage makes up approximately 1.2% of Estuary Capital Management LP's portfolio, making the stock its 14th biggest holding. Estuary Capital Management LP's holdings in Molson Coors Beverage were worth $4,937,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Benjamin Edwards Inc. boosted its position in shares of Molson Coors Beverage by 11.2% during the 4th quarter. Benjamin Edwards Inc. now owns 17,655 shares of the company's stock valued at $1,012,000 after acquiring an additional 1,782 shares during the last quarter. Baird Financial Group Inc. grew its position in Molson Coors Beverage by 5.9% during the fourth quarter. Baird Financial Group Inc. now owns 35,375 shares of the company's stock valued at $2,028,000 after acquiring an additional 1,978 shares during the last quarter. BOKF NA grew its position in Molson Coors Beverage by 5.4% during the fourth quarter. BOKF NA now owns 33,734 shares of the company's stock valued at $1,769,000 after acquiring an additional 1,741 shares during the last quarter. CoreCap Advisors LLC grew its position in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after acquiring an additional 643 shares during the last quarter. Finally, Clark Capital Management Group Inc. grew its position in Molson Coors Beverage by 11.0% during the fourth quarter. Clark Capital Management Group Inc. now owns 492,334 shares of the company's stock valued at $28,221,000 after acquiring an additional 48,819 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 0.9%

TAP stock traded down $0.47 during midday trading on Monday, hitting $49.93. The stock had a trading volume of 1,982,652 shares, compared to its average volume of 2,439,950. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 9.85, a price-to-earnings-growth ratio of 1.84 and a beta of 0.69. The business has a 50-day moving average of $50.23 and a two-hundred day moving average of $54.42. 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 current ratio of 0.95 and a quick ratio of 0.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results 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. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The company 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 firm earned $1.92 earnings per share. The firm'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. As a group, equities research analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's payout ratio is 37.08%.

Analyst Ratings Changes

A number of brokerages have commented on TAP. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. The Goldman Sachs Group reduced their price target on shares of Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Wells Fargo & Company reduced their price target on shares of 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 research note on Tuesday, May 20th. Finally, Bank of America lowered Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $65.00 to $50.00 in a research note on Friday, June 27th. 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, the company has a consensus rating of "Hold" and a consensus target price of $58.12.

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.