Korea Investment CORP Sells 25,292 Shares of Molson Coors Beverage Company $TAP

Key Points

• Korea Investment CORP has reduced its holdings in Molson Coors Beverage Company (NYSE:TAP) by 16.4%, selling 25,292 shares during the first quarter, now owning approximately 0.06% of the company worth $7.8 million.
• Molson Coors reported an EPS of $2.05 for the last quarter, exceeding estimates and showing a 7.81% net margin, despite a year-over-year revenue decline of 1.6%.
• The company recently declared a quarterly dividend of $0.47, translating to an annual yield of 3.6%, with a payout ratio currently at 37.08%.

Korea Investment CORP cut its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,886 shares of the company's stock after selling 25,292 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Molson Coors Beverage worth $7,845,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Molson Coors Beverage by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after acquiring an additional 290 shares during the period. Millstone Evans Group LLC increased its position in 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 acquiring an additional 255 shares during the period. Elequin Capital LP bought a new position in Molson Coors Beverage during the first quarter worth about $30,000. Financial Management Professionals Inc. increased its position in Molson Coors Beverage by 3,286.7% during the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after acquiring an additional 493 shares during the period. Finally, Eastern Bank bought a new position in Molson Coors Beverage during the first quarter worth about $33,000. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Up 1.5%

Molson Coors Beverage stock traded up $0.77 during mid-day trading on Wednesday, hitting $51.10. 790,618 shares of the stock were exchanged, compared to its average volume of 2,449,528. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The firm's fifty day simple moving average is $49.85 and its two-hundred day simple moving average is $54.87. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 1.88 and a beta of 0.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business earned $1.92 EPS. The company's revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

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

Analyst Ratings Changes

TAP has been the topic of a number of recent research reports. Sanford C. Bernstein lowered 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 research report on Wednesday, July 9th. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. 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 report on Friday, June 27th. Barclays decreased their target price on shares of Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Finally, Evercore ISI decreased their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.