Highland Capital Management LLC Sells 62,170 Shares of Molson Coors Beverage Company $TAP

Key Points

• Highland Capital Management LLC significantly reduced its holdings in Molson Coors Beverage Company by selling 62,170 shares, reducing their ownership by 49.7% in the second quarter.
• Several institutional investors have made notable adjustments to their stakes in Molson Coors, with one firm, Carolina Wealth Advisors LLC, increasing its position by over 2,367.3%.
• Analysts have lowered their price targets for Molson Coors Beverage, with the average target currently set at $56.88, while the stock has a consensus rating of "Hold."

Highland Capital Management LLC cut its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 49.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,840 shares of the company's stock after selling 62,170 shares during the period. Highland Capital Management LLC's holdings in Molson Coors Beverage were worth $3,022,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Carolina Wealth Advisors LLC raised its position in Molson Coors Beverage by 2,367.3% in the second quarter. Carolina Wealth Advisors LLC now owns 97,039 shares of the company's stock worth $4,667,000 after acquiring an additional 93,106 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Molson Coors Beverage by 9.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,344 shares of the company's stock worth $1,171,000 after acquiring an additional 2,014 shares during the period. Lecap Asset Management Ltd. raised its position in shares of Molson Coors Beverage by 54.4% during the 2nd quarter. Lecap Asset Management Ltd. now owns 9,656 shares of the company's stock valued at $464,000 after purchasing an additional 3,403 shares during the period. ASR Vermogensbeheer N.V. raised its position in shares of Molson Coors Beverage by 0.6% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 91,359 shares of the company's stock valued at $4,393,000 after purchasing an additional 504 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Molson Coors Beverage by 13.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 755,266 shares of the company's stock valued at $36,321,000 after purchasing an additional 90,716 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on TAP shares. UBS Group decreased their price objective on shares of 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. 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 on the stock in a research report on Wednesday, July 9th. The Goldman Sachs Group decreased their price objective on shares of Molson Coors Beverage from $67.00 to $57.00 and set a "buy" rating on the stock in a research report on Thursday. Morgan Stanley decreased their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $58.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of "Hold" and an average price target of $56.88.

Molson Coors Beverage Stock Performance

TAP opened at $46.40 on Friday. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 1.69 and a beta of 0.63. The company has a fifty day moving average of $48.98 and a 200 day moving average of $52.58. Molson Coors Beverage Company has a fifty-two week low of $43.80 and a fifty-two week high of $64.66. 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 issued 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. 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 during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the company posted $1.92 EPS. The business's revenue 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, sell-side analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

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