Russell Investments Group Ltd. Decreases Stake in Molson Coors Beverage Company $TAP

Key Points

• Russell Investments Group Ltd. reduced its holdings in Molson Coors by 8.2% in the first quarter, now owning 0.15% of the company, worth approximately $18.5 million.
• Molson Coors reported a quarterly EPS of $2.05, surpassing analysts' estimates of $1.83, despite a 1.6% decline in revenue year-over-year.
• The company announced a dividend of $0.47 per share, set to be paid on September 19th, representing an annualized dividend yield of 3.7%.

Russell Investments Group Ltd. decreased its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 8.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 304,569 shares of the company's stock after selling 27,135 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.15% of Molson Coors Beverage worth $18,539,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. DoubleLine ETF Adviser LP lifted its position in shares of Molson Coors Beverage by 1.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock worth $590,000 after buying an additional 170 shares in the last quarter. Twin Capital Management Inc. raised its stake in Molson Coors Beverage by 0.7% during the first 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 raised its stake in Molson Coors Beverage by 0.4% during the fourth 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 lifted its position in Molson Coors Beverage by 5.0% during the first quarter. Callan Family Office LLC now owns 4,426 shares of the company's stock valued at $269,000 after purchasing an additional 209 shares during the last quarter. Finally, Forum Financial Management LP grew its stake in shares of Molson Coors Beverage by 4.4% in 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. Institutional investors own 78.46% of the company's stock.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the sale, the director owned 27,595 shares in the company, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.71% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TAP. UBS Group decreased their target price on shares of Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. Sanford C. Bernstein decreased their price target on 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. Finally, Citigroup lowered their price target on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $58.12.

Molson Coors Beverage Stock Up 0.7%

Molson Coors Beverage stock traded up $0.3750 during midday trading on Tuesday, hitting $51.4950. 1,942,624 shares of the company's stock were exchanged, compared to its average volume of 2,839,222. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The company has a market cap of $10.41 billion, a PE ratio of 10.16, a P/E/G ratio of 1.86 and a beta of 0.67. The firm has a 50-day moving average of $49.75 and a two-hundred day moving average of $54.94.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the firm earned $1.92 earnings per share. The company'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, analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.7%. Molson Coors Beverage's payout ratio is presently 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.