Molson Coors Beverage Company $TAP Holdings Lifted by Jump Financial LLC

Key Points

• Jump Financial LLC significantly increased its holdings in Molson Coors Beverage Company by 205.4%, acquiring an additional 16,349 shares, bringing its total to 24,307 shares worth approximately $1.48 million.
• The company reported a $2.05 EPS for its latest quarter, surpassing analysts' expectations of $1.83, with revenues of $3.20 billion, although this represented a decrease of 1.6% year-over-year.
• Molson Coors Beverage recently announced a quarterly dividend of $0.47, showcasing a dividend yield of 3.7%, with a payout ratio of 37.08%.

Jump Financial LLC grew its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 205.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,307 shares of the company's stock after buying an additional 16,349 shares during the quarter. Jump Financial LLC's holdings in Molson Coors Beverage were worth $1,480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC boosted its stake in shares of Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after buying an additional 290 shares during the last quarter. Millstone Evans Group LLC boosted its stake in shares of 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 buying an additional 255 shares during the last quarter. Elequin Capital LP purchased a new position in shares of Molson Coors Beverage during the 1st quarter valued at approximately $30,000. Financial Management Professionals Inc. boosted its stake in shares of Molson Coors Beverage by 3,286.7% during the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after buying an additional 493 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Molson Coors Beverage during the 1st quarter valued at approximately $33,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TAP shares. 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. Barclays dropped their price target on Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Morgan Stanley dropped their price target on 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. Wall Street Zen lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, Wells Fargo & Company dropped their price target on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $58.12.

Molson Coors Beverage Stock Performance

NYSE TAP traded up $0.23 during trading hours on Monday, hitting $50.45. The company had a trading volume of 1,714,557 shares, compared to its average volume of 2,573,391. Molson Coors Beverage Company has a fifty-two week low of $46.94 and a fifty-two week high of $64.66. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $49.98 and a 200-day simple moving average of $54.78. The firm has a market cap of $10.20 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 1.84 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. The company 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 company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Equities analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is 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.