Federation des caisses Desjardins du Quebec Cuts Stock Position in Molson Coors Beverage Company $TAP

Key Points

• Federation des caisses Desjardins du Quebec reduced its stake in Molson Coors Beverage Company by 6.6%, selling 5,200 shares, which left them with 73,949 shares valued at $4.5 million.
• Several hedge funds increased their investments in Molson Coors Beverage, with Golden State Wealth Management LLC growing its stake by 230.2% in the first quarter.
• Analysts have downgraded Molson Coors Beverage's stock with recent price target reductions, including JPMorgan Chase & Co. lowering their target from $62.00 to $53.00 and Bank of America from $65.00 to $50.00.

Federation des caisses Desjardins du Quebec decreased its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,949 shares of the company's stock after selling 5,200 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Molson Coors Beverage were worth $4,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TAP. Benjamin Edwards Inc. raised its stake in Molson Coors Beverage by 11.2% during the 4th quarter. Benjamin Edwards Inc. now owns 17,655 shares of the company's stock worth $1,012,000 after acquiring an additional 1,782 shares during the period. Baird Financial Group Inc. lifted its position in shares of Molson Coors Beverage by 5.9% in 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 in the last quarter. BOKF NA boosted its stake in shares of Molson Coors Beverage by 5.4% in the fourth quarter. BOKF NA now owns 33,734 shares of the company's stock worth $1,769,000 after acquiring an additional 1,741 shares during the period. CoreCap Advisors LLC grew its position in shares of Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after purchasing an additional 643 shares in the last quarter. Finally, Clark Capital Management Group Inc. grew its position in shares of 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 worth $28,221,000 after purchasing an additional 48,819 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TAP shares. Needham & Company LLC reduced their price objective 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. Citigroup reduced their price target on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Barclays decreased 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 note on Thursday, August 7th. Evercore ISI decreased their target price 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. Finally, Wall Street Zen lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $58.12.

Molson Coors Beverage Trading Down 0.9%

TAP stock traded down $0.45 during midday trading on Tuesday, reaching $49.44. The company's stock had a trading volume of 2,016,595 shares, compared to its average volume of 2,433,837. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The firm has a market capitalization of $9.99 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.84 and a beta of 0.69. The stock has a fifty day simple moving average of $50.26 and a two-hundred day simple moving average of $54.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted 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. The firm had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The business's revenue for the quarter was down 1.6% on a year-over-year basis. 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, equities research analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.8%. Molson Coors Beverage's dividend payout ratio (DPR) is currently 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.