Adage Capital Partners GP L.L.C. Cuts Holdings in Molson Coors Beverage Company $TAP

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Molson Coors Beverage Company by 3.7%, selling 6,100 shares, and now holds approximately 0.08% of the company.
• The company reported $2.05 earnings per share, surpassing estimates, despite a 1.6% year-over-year revenue decline, and has set guidance for FY 2025 earnings at 5.360-5.540.
• Molson Coors Beverage recently announced a quarterly dividend of $0.47, yielding 3.7%, with a payout ratio of 37.08%.

Adage Capital Partners GP L.L.C. trimmed its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,136 shares of the company's stock after selling 6,100 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.08% of Molson Coors Beverage worth $9,565,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Twin Capital Management Inc. grew its holdings in Molson Coors Beverage by 0.7% during the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock worth $1,509,000 after acquiring an additional 180 shares during the period. ProShare Advisors LLC grew its holdings in Molson Coors Beverage by 0.4% during the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after acquiring an additional 206 shares during the period. Callan Family Office LLC grew its holdings 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 acquiring an additional 209 shares during the period. Forum Financial Management LP grew its holdings 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 acquiring an additional 220 shares during the period. Finally, Millstone Evans Group LLC grew its holdings 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 acquiring an additional 255 shares during the period. Institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup decreased their price target on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Barclays dropped their price objective on shares of Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Evercore ISI dropped their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group dropped their price objective on shares of Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $58.12.

Molson Coors Beverage Stock Down 0.8%

NYSE TAP traded down $0.40 during trading hours on Wednesday, hitting $49.05. The company's stock had a trading volume of 2,613,892 shares, compared to its average volume of 2,438,618. Molson Coors Beverage Company has a 52 week low of $46.94 and a 52 week high of $64.66. The company has a market capitalization of $9.70 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 1.82 and a beta of 0.69. 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's 50-day simple moving average is $50.27 and its two-hundred day simple moving average is $54.32.

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 for the quarter, beating the consensus estimate 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 business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter last year, the firm earned $1.92 EPS. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Research analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.8%. 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.