Lbp Am Sa Cuts Stock Position in Molson Coors Beverage Company $TAP

Key Points

• Lbp Am Sa reduced its stake in Molson Coors Beverage Company by 23.0%, selling 46,194 shares during the second quarter, now holding a total of 154,476 shares valued at approximately $7.43 million.
• Analyst ratings on Molson Coors have fluctuated, with Sanford C. Bernstein lowering its target price from $65.00 to $55.00, and several other firms adjusting their ratings to "neutral" or "hold" status.
• The company recently reported earnings of $2.05 EPS, exceeding analysts' expectations, while also announcing a quarterly dividend of $0.47 per share, reflecting a 4.1% yield.

Lbp Am Sa lowered its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 23.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 154,476 shares of the company's stock after selling 46,194 shares during the period. Lbp Am Sa owned 0.08% of Molson Coors Beverage worth $7,429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TAP. Ameriprise Financial Inc. boosted its stake in Molson Coors Beverage by 414.3% during the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company's stock valued at $120,960,000 after purchasing an additional 1,600,748 shares during the last quarter. KBC Group NV boosted its stake in Molson Coors Beverage by 269.1% during the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company's stock valued at $75,329,000 after purchasing an additional 902,296 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock valued at $274,144,000 after purchasing an additional 750,388 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Molson Coors Beverage by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock valued at $251,442,000 after purchasing an additional 595,203 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Molson Coors Beverage by 72.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company's stock valued at $84,024,000 after purchasing an additional 579,649 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on TAP. Sanford C. Bernstein cut their target price on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 9th. Bank of America downgraded Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their target price for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Jefferies Financial Group lowered their price target on Molson Coors Beverage from $52.00 to $50.00 and set a "hold" rating on the stock in a report on Tuesday. Wells Fargo & Company lowered their price target on Molson Coors Beverage from $58.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Finally, Morgan Stanley lowered their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $57.46.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $46.07 on Thursday. Molson Coors Beverage Company has a one year low of $43.80 and a one year high of $64.66. The stock's fifty day moving average is $49.17 and its 200 day moving average is $52.80. The stock has a market cap of $9.11 billion, a P/E ratio of 9.09, a P/E/G ratio of 1.65 and a beta of 0.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95.

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. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the firm earned $1.92 EPS. Molson Coors Beverage's revenue for the quarter 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. Sell-side analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 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.

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