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J. Safra Sarasin Holding AG Trims Position in Molson Coors Beverage Company $TAP

Molson Coors Beverage logo with Consumer Staples background

Key Points

  • J. Safra Sarasin Holding AG reduced its stake in Molson Coors Beverage Company (NYSE:TAP) by 79.7%, owning only 5,558 shares after selling 21,780 shares in the second quarter.
  • Several other institutional investors also made significant changes, with Golden State Wealth Management LLC increasing its stake by 230.2% during the first quarter.
  • Analysts have adjusted their price targets for Molson Coors Beverage, with firms like Needham & Company LLC lowering its price objective from $65.00 to $58.00 while maintaining a "buy" rating.
  • MarketBeat previews the top five stocks to own by November 1st.

J. Safra Sarasin Holding AG decreased its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 79.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,558 shares of the company's stock after selling 21,780 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Molson Coors Beverage were worth $267,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Golden State Wealth Management LLC lifted its position in shares of Molson Coors Beverage by 230.2% in the first 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 raised its stake in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares during the period. Elequin Capital LP purchased a new position in Molson Coors Beverage in the 1st quarter worth approximately $30,000. Eastern Bank purchased a new position in Molson Coors Beverage in the 1st quarter worth approximately $33,000. Finally, Geneos Wealth Management Inc. boosted its stake in Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock worth $49,000 after purchasing an additional 198 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analysts Set New Price Targets

TAP has been the topic of several recent analyst reports. Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Sanford C. Bernstein reduced their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Piper Sandler reduced their target price on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a report on Tuesday, September 30th. Finally, Citigroup decreased their target price on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $56.88.

View Our Latest Analysis on Molson Coors Beverage

Molson Coors Beverage Trading Up 0.5%

Shares of NYSE TAP opened at $46.40 on Monday. Molson Coors Beverage Company has a 1-year low of $43.80 and a 1-year high of $64.66. 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 business's 50 day moving average is $48.98 and its two-hundred day moving average is $52.53. The stock has a market capitalization of $9.17 billion, a P/E ratio of 9.15, a PEG ratio of 1.69 and a beta of 0.63.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its 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. The firm had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The company's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a dividend of $0.47 per share. The ex-dividend date was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.1%. Molson Coors Beverage's payout ratio is 37.08%.

Molson Coors Beverage Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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