Fluent Financial LLC Grows Stake in Molson Coors Beverage Company $TAP

Fluent Financial LLC lifted its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 34.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,882 shares of the company's stock after buying an additional 23,746 shares during the period. Molson Coors Beverage makes up about 1.8% of Fluent Financial LLC's investment portfolio, making the stock its 15th biggest position. Fluent Financial LLC's holdings in Molson Coors Beverage were worth $4,419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Capital Management Inc. boosted its position in shares of Molson Coors Beverage by 0.7% during the first quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock valued at $1,509,000 after buying an additional 180 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after buying an additional 198 shares during the period. Signet Financial Management LLC boosted its position in shares of Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company's stock valued at $277,000 after buying an additional 208 shares during the period. Callan Family Office LLC boosted its holdings in shares of Molson Coors Beverage by 5.0% in the first quarter. Callan Family Office LLC now owns 4,426 shares of the company's stock valued at $269,000 after purchasing an additional 209 shares during the period. Finally, Millstone Evans Group LLC boosted its holdings in shares of Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TAP shares. Citigroup lowered their price target on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Piper Sandler lowered their price target on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a report on Tuesday, September 30th. Morgan Stanley lowered their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Bank of America downgraded shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $65.00 to $50.00 in a research note on Friday, June 27th. Finally, Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $56.74.

Molson Coors Beverage Trading Down 1.3%

TAP stock opened at $45.60 on Thursday. The company's 50-day simple moving average is $48.73 and its 200-day simple moving average is $52.35. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a 52-week low of $43.80 and a 52-week high of $64.66. The firm has a market cap of $9.02 billion, a P/E ratio of 8.99, a PEG ratio of 1.68 and a beta of 0.63.

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 analyst estimates of $3.12 billion. During the same period in the prior year, the company posted $1.92 EPS. The company'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 analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a $0.47 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.1%. Molson Coors Beverage's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.