Molson Coors Beverage Company $TAP Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Molson Coors Beverage Company by 31.3%, now owning approximately 1,565,377 shares valued at $95.28 million.
• Molson Coors Beverage recently reported earnings per share (EPS) of $2.05 for the last quarter, exceeding analyst expectations of $1.83, despite a 1.6% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.47 per share, representing an annualized dividend yield of 3.9% to shareholders recorded on September 5th.

Goldman Sachs Group Inc. raised its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 31.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,565,377 shares of the company's stock after purchasing an additional 373,501 shares during the period. Goldman Sachs Group Inc. owned about 0.77% of Molson Coors Beverage worth $95,284,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Molson Coors Beverage by 6.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,934 shares of the company's stock valued at $3,435,000 after purchasing an additional 3,589 shares in the last quarter. OMERS ADMINISTRATION Corp raised its holdings in Molson Coors Beverage by 19.9% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 7,918 shares of the company's stock valued at $454,000 after acquiring an additional 1,314 shares during the last quarter. Nomura Holdings Inc. purchased a new position in Molson Coors Beverage during the fourth quarter worth about $330,000. Mufg Securities Americas Inc. acquired a new stake in shares of Molson Coors Beverage in the fourth quarter worth approximately $148,000. Finally, Quantinno Capital Management LP grew its stake in shares of Molson Coors Beverage by 11.9% during the 4th quarter. Quantinno Capital Management LP now owns 113,985 shares of the company's stock valued at $6,534,000 after buying an additional 12,144 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Bank of America cut shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their price target for the company from $65.00 to $50.00 in a report on Friday, June 27th. Barclays reissued an "underweight" rating and set a $50.00 price objective (up from $49.00) on shares of Molson Coors Beverage in a report on Friday. UBS Group dropped their price target on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Sanford C. Bernstein decreased their price objective on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a report on Wednesday, July 9th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and an average target price of $58.18.

Molson Coors Beverage Stock Performance

NYSE:TAP traded down $0.61 during mid-day trading on Monday, hitting $47.81. The stock had a trading volume of 2,453,946 shares, compared to its average volume of 1,996,899. Molson Coors Beverage Company has a 52 week low of $46.94 and a 52 week 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 market capitalization of $9.45 billion, a price-to-earnings ratio of 9.43, a P/E/G ratio of 1.76 and a beta of 0.69. The company has a 50 day simple moving average of $50.21 and a 200-day simple moving average of $53.91.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the company posted $1.92 earnings per share. The business's revenue for the quarter 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. On average, research analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's payout ratio is currently 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.