Ieq Capital LLC Sells 42,096 Shares of Molson Coors Beverage Company $TAP

Key Points

• Ieq Capital LLC sold 42,096 shares of Molson Coors Beverage, reducing its stake by 62.4% during the first quarter.
• The company's stock has been rated with a consensus of "Hold," with price targets lowered by several analysts, including Bank of America and Needham & Company.
• Molson Coors Beverage recently announced a quarterly dividend of $0.47 per share, reflecting a dividend yield of 3.7% and a payout ratio of 37.08%.

Ieq Capital LLC lowered its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 62.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,355 shares of the company's stock after selling 42,096 shares during the period. Ieq Capital LLC's holdings in Molson Coors Beverage were worth $1,543,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Twin Capital Management Inc. increased its position in Molson Coors Beverage by 0.7% during the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock worth $1,509,000 after purchasing an additional 180 shares in the last quarter. ProShare Advisors LLC lifted its stake 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 acquiring an additional 206 shares during the period. Callan Family Office LLC lifted its stake in 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 buying an additional 209 shares during the period. Forum Financial Management LP lifted its stake in Molson Coors Beverage by 4.4% in the fourth quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock valued at $299,000 after buying an additional 220 shares during the period. Finally, Millstone Evans Group LLC raised its position in shares of Molson Coors Beverage by 151.8% during the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after purchasing an additional 255 shares during the period. Institutional investors own 78.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TAP shares. Piper Sandler decreased their target price 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. Citigroup cut their target price on 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. Wells Fargo & Company dropped their price target 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. Roth Capital set a $71.00 price target on Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $58.12.

Molson Coors Beverage Price Performance

NYSE:TAP traded up $0.46 during mid-day trading on Friday, reaching $50.37. The stock had a trading volume of 1,787,916 shares, compared to its average volume of 2,069,381. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The firm has a 50 day moving average price of $50.23 and a two-hundred day moving average price of $54.51. The stock has a market capitalization of $10.18 billion, a P/E ratio of 9.93, a P/E/G ratio of 1.82 and a beta of 0.69. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results 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 return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the previous year, the firm earned $1.92 EPS. The business's quarterly 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, analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is presently 37.08%.

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.