HighTower Advisors LLC Sells 9,728 Shares of Molson Coors Beverage Company $TAP

Key Points

• HighTower Advisors LLC has reduced its holdings in Molson Coors Beverage Company by 53.3%, selling 9,728 shares during the first quarter and now owns 8,530 shares valued at approximately $519,000.
• The company's recent earnings report showed an EPS of $2.05, exceeding estimates, and it set its FY 2025 guidance at 5.360-5.540 EPS.
• Molson Coors Beverage announced a quarterly dividend of $0.47 per share, representing a 3.7% dividend yield and a payout ratio of 37.08%.

HighTower Advisors LLC cut its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 53.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,530 shares of the company's stock after selling 9,728 shares during the quarter. HighTower Advisors LLC's holdings in Molson Coors Beverage were worth $519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its position in Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after acquiring an additional 290 shares in the last quarter. Millstone Evans Group LLC lifted its position in Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 255 shares in the last quarter. Financial Management Professionals Inc. lifted its position in Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after acquiring an additional 493 shares in the last quarter. Eastern Bank bought a new position in Molson Coors Beverage in the 1st quarter valued at approximately $33,000. Finally, First Financial Corp IN bought a new position in Molson Coors Beverage in the 1st quarter valued at approximately $37,000. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Up 0.5%

NYSE:TAP opened at $50.45 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 1.84 and a beta of 0.67. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66. The business has a fifty day moving average price of $49.98 and a 200-day moving average price of $54.81.

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 the consensus estimate of $1.83 by $0.22. The firm had revenue of $3.20 billion during 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%.Molson Coors Beverage's revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Sell-side analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business 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 $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is 37.08%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TAP shares. Barclays decreased their target price on shares of Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Sanford C. Bernstein decreased their target price on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research note on Wednesday, July 9th. Wells Fargo & Company decreased their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and decreased their target price for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Finally, Citigroup decreased their target price on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and an average target price of $58.12.

Molson Coors Beverage 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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