Versor Investments LP Has $1.01 Million Holdings in Molson Coors Beverage Company $TAP

Key Points

• Versor Investments LP increased its stake in Molson Coors Beverage Company by 43.1% during the first quarter, bringing its total holdings to 16,600 shares valued at approximately $1.01 million.
• Analysts have recently cut their price targets for Molson Coors, with JPMorgan reducing its target from $62 to $53 and Needham & Company from $65 to $58.
• Molson Coors declared a quarterly dividend of $0.47 per share, representing an annualized yield of 3.7%, with the payment date set for September 19th.

Versor Investments LP boosted its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 43.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,600 shares of the company's stock after purchasing an additional 5,000 shares during the quarter. Versor Investments LP's holdings in Molson Coors Beverage were worth $1,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Golden State Wealth Management LLC boosted its stake in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after purchasing an additional 290 shares in the last quarter. Millstone Evans Group LLC boosted its stake in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after purchasing an additional 493 shares in the last quarter. Eastern Bank acquired a new stake in shares of Molson Coors Beverage in the 1st quarter valued at approximately $33,000. Finally, First Financial Corp IN acquired a new stake in shares of Molson Coors Beverage in the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Trading Up 2.0%

TAP stock traded up $1.0350 during trading on Friday, hitting $52.7750. The company had a trading volume of 1,717,425 shares, compared to its average volume of 2,800,801. The business has a 50-day moving average of $49.79 and a 200-day moving average of $54.91. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66. The stock has a market cap of $10.67 billion, a PE ratio of 10.41, a PEG ratio of 1.88 and a beta of 0.67. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46.

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, beating the consensus estimate 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 business 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 business posted $1.92 earnings per share. The firm's 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. Research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders 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 annualized dividend and a yield of 3.6%. Molson Coors Beverage's payout ratio is 37.08%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $65.00 to $50.00 in a report on Friday, June 27th. Sanford C. Bernstein reduced 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. Piper Sandler reduced their price target on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a report on Monday, June 23rd. The Goldman Sachs Group reduced their price target on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Citigroup reduced their price target on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and an average target price of $58.12.

About Molson Coors Beverage

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.