Molson Coors Beverage Company $TAP Shares Purchased by Callan Family Office LLC

Key Points

• Callan Family Office LLC significantly increased its holdings in Molson Coors Beverage Company by 189.0%, acquiring a total of 12,790 shares worth $615,000.
• Molson Coors reported better-than-expected quarterly earnings of $2.05 per share, surpassing analysts' estimates by $0.22, despite a 1.6% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.47 per share, reflecting an annualized yield of 4.1% and a payout ratio of 37.08%.

Callan Family Office LLC raised its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 189.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,790 shares of the company's stock after purchasing an additional 8,364 shares during the period. Callan Family Office LLC's holdings in Molson Coors Beverage were worth $615,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Twin Capital Management Inc. increased 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 during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock worth $49,000 after acquiring an additional 198 shares during the last quarter. Signet Financial Management LLC grew its position in shares of Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company's stock worth $277,000 after acquiring an additional 208 shares during the last quarter. Millstone Evans Group LLC grew its position in shares of Molson Coors Beverage by 151.8% during 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 during the last quarter. Finally, Unified Investment Management grew its position in shares of Molson Coors Beverage by 1.8% during the second quarter. Unified Investment Management now owns 14,972 shares of the company's stock worth $720,000 after acquiring an additional 271 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $46.03 on Tuesday. Molson Coors Beverage Company has a twelve month low of $43.80 and a twelve month high of $64.66. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.10 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.68 and a beta of 0.63. The firm has a 50-day moving average of $48.58 and a two-hundred day moving average of $51.95.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share 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 company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the company earned $1.92 EPS. Molson Coors Beverage'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. 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 was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.1%. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Analyst Ratings Changes

TAP has been the subject of several recent research reports. Weiss Ratings restated a "hold (c-)" rating on shares of Molson Coors Beverage in a research report on Saturday, September 27th. The Goldman Sachs Group reduced their price objective on shares of Molson Coors Beverage from $67.00 to $57.00 and set a "buy" rating for the company in a report on Thursday, October 2nd. Wells Fargo & Company reduced their price objective on shares of Molson Coors Beverage from $58.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Sanford C. Bernstein reduced their price objective on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a report on Wednesday, July 9th. Finally, Bank of America downgraded shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $65.00 to $50.00 in a report on Friday, June 27th. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $56.62.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.