Molson Coors Beverage Company $TAP is Kingdon Capital Management L.L.C.'s 8th Largest Position

Key Points

• Kingdon Capital Management L.L.C. decreased their stake in Molson Coors Beverage Company (NYSE:TAP) by 16.7%, making the stock roughly 1.5% of their investment portfolio and their 8th largest position.
• Several analysts have lowered their target prices for Molson Coors, with Bank of America changing their rating from "buy" to "neutral" and decreasing their price target from $65 to $50.
• The company recently announced a quarterly dividend of $0.47, representing a yield of 3.7%, with a payout ratio of 37.08%.

Kingdon Capital Management L.L.C. lowered its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,200 shares of the company's stock after selling 48,000 shares during the period. Molson Coors Beverage makes up approximately 1.5% of Kingdon Capital Management L.L.C.'s investment portfolio, making the stock its 8th biggest position. Kingdon Capital Management L.L.C. owned 0.12% of Molson Coors Beverage worth $14,621,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in Molson Coors Beverage by 230.2% in 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 in the last quarter. Millstone Evans Group LLC grew its position in Molson Coors Beverage by 151.8% in 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 in the last quarter. Elequin Capital LP purchased a new position in Molson Coors Beverage in the first quarter worth about $30,000. Financial Management Professionals Inc. grew its position in Molson Coors Beverage by 3,286.7% in 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 in the last quarter. Finally, Eastern Bank purchased a new position in shares of Molson Coors Beverage during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Bank of America lowered Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their target price for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Evercore ISI dropped their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. UBS Group dropped their target price on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Sanford C. Bernstein dropped their target price on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $58.12.

Molson Coors Beverage Stock Up 0.5%

Shares of NYSE TAP opened at $50.45 on Friday. 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 firm has a market capitalization of $10.20 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.83 and a beta of 0.67. The stock has a 50 day moving average price of $49.98 and a 200 day moving average price of $54.80. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $3.20 billion during 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%.Molson Coors Beverage's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Sell-side analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current 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 paid 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 yield of 3.7%. Molson Coors Beverage's payout ratio 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.

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