Groupama Asset Managment Acquires Shares of 7,162 Molson Coors Beverage Company $TAP

Key Points

• Groupama Asset Management acquired a new stake in Molson Coors Beverage Company, purchasing 7,162 shares valued at approximately $434,000 during the first quarter.
• Several institutional investors have recently adjusted their stakes in the company, with Kendall Capital Management increasing its stake by 42.7% in the first quarter.
• Molson Coors reported a quarterly EPS of $2.05, exceeding the consensus estimate of $1.83, along with a revenue of $3.20 billion, slightly above analyst expectations.

Groupama Asset Managment bought a new position in Molson Coors Beverage Company (NYSE:TAP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,162 shares of the company's stock, valued at approximately $434,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. DoubleLine ETF Adviser LP boosted its position in shares of Molson Coors Beverage by 1.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock worth $590,000 after buying an additional 170 shares during the period. Twin Capital Management Inc. boosted its position in shares of Molson Coors Beverage by 0.7% in the first quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock worth $1,509,000 after buying an additional 180 shares during the period. ProShare Advisors LLC boosted its position in shares of Molson Coors Beverage by 0.4% in the fourth quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after buying an additional 206 shares during the period. Callan Family Office LLC boosted its position 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 worth $269,000 after buying an additional 209 shares during the period. Finally, Forum Financial Management LP boosted its position in shares of Molson Coors Beverage by 4.4% in the fourth quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock worth $299,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 2.0%

NYSE TAP traded up $1.0350 during trading on Friday, hitting $52.7750. 1,717,425 shares of the company traded hands, compared to its average volume of 2,787,848. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The business has a fifty day simple moving average of $49.79 and a 200 day simple moving average of $54.92. 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 company has a market capitalization of $10.67 billion, a P/E ratio of 10.41, a PEG ratio of 1.92 and a beta of 0.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, sell-side analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.6%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.08%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TAP. Wells Fargo & Company reduced their price objective on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Barclays reduced their price objective on Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Evercore ISI reduced their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research report on Wednesday, July 9th. Finally, Piper Sandler reduced their price objective on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday, June 23rd. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and a consensus price target of $58.12.

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.