Molson Coors Beverage Company $TAP Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Molson Coors Beverage Company by 19.5% during the first quarter, now owning 71,612 shares valued at $4,359,000.
• Molson Coors reported a quarterly EPS of $2.05, exceeding analysts' estimates of $1.83, though its revenue declined 1.6% year-over-year.
• The company announced a quarterly dividend of $0.47 per share, representing an annualized yield of 3.8%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,612 shares of the company's stock after purchasing an additional 11,678 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Molson Coors Beverage were worth $4,359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Twin Capital Management Inc. increased its stake in shares of Molson Coors Beverage by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock valued at $1,509,000 after purchasing an additional 180 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Molson Coors Beverage by 0.4% in the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock valued at $2,809,000 after purchasing an additional 206 shares in the last quarter. Callan Family Office LLC increased its stake in Molson Coors Beverage by 5.0% during the 1st quarter. Callan Family Office LLC now owns 4,426 shares of the company's stock worth $269,000 after buying an additional 209 shares in the last quarter. Forum Financial Management LP increased its stake in Molson Coors Beverage by 4.4% during the 4th quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock worth $299,000 after buying an additional 220 shares in the last quarter. Finally, Millstone Evans Group LLC increased 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 worth $26,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TAP shares. Needham & Company LLC cut their price objective on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. UBS Group cut their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Citigroup cut their price objective 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. Evercore ISI cut their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research note on Wednesday, August 6th. Finally, Piper Sandler cut their price objective on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research note on Monday, June 23rd. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus price target of $58.18.

Molson Coors Beverage Trading Down 1.3%

TAP traded down $0.61 during trading hours on Monday, reaching $47.81. The company's stock had a trading volume of 2,453,621 shares, compared to its average volume of 2,436,112. Molson Coors Beverage Company has a fifty-two week low of $46.94 and a fifty-two week high of $64.66. The stock has a market cap of $9.45 billion, a PE ratio of 9.43, a P/E/G ratio of 1.76 and a beta of 0.69. The business's 50-day moving average is $50.24 and its 200-day moving average is $54.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating 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 firm had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period in the prior year, the firm posted $1.92 earnings per share. The firm'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, equities research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.47 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.9%. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Molson Coors Beverage Company 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.