Molson Coors Beverage Company $TAP Shares Sold by Alhambra Investment Management LLC

Key Points

• Alhambra Investment Management LLC significantly reduced its stake in Molson Coors Beverage Company by 62.2%, currently holding 4,175 shares valued at $201,000.
• Molson Coors reported earnings per share of $2.05 for the last quarter, exceeding the estimated $1.83, with revenues of $3.20 billion, though down 1.6% from the previous year.
• The company declared a quarterly dividend of $0.47 per share, translating to an annualized yield of 4.3%, with a payout ratio of 37.08%.

Alhambra Investment Management LLC lowered its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 62.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,175 shares of the company's stock after selling 6,873 shares during the quarter. Alhambra Investment Management LLC's holdings in Molson Coors Beverage were worth $201,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Molson Coors Beverage by 14.7% during the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company's stock valued at $14,498,000 after acquiring an additional 30,463 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Molson Coors Beverage in the first quarter valued at approximately $22,253,000. Kendall Capital Management grew its position in shares of Molson Coors Beverage by 42.7% in the first quarter. Kendall Capital Management now owns 19,995 shares of the company's stock valued at $1,217,000 after purchasing an additional 5,985 shares in the last quarter. Jump Financial LLC grew its position in shares of Molson Coors Beverage by 205.4% in the first quarter. Jump Financial LLC now owns 24,307 shares of the company's stock valued at $1,480,000 after purchasing an additional 16,349 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Molson Coors Beverage by 7.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company's stock valued at $1,352,000 after purchasing an additional 1,606 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Trading Down 2.4%

Shares of Molson Coors Beverage stock opened at $44.01 on Wednesday. The firm has a market capitalization of $8.70 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 1.64 and a beta of 0.69. Molson Coors Beverage Company has a fifty-two week low of $43.99 and a fifty-two week 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 stock has a 50 day moving average of $49.81 and a 200 day moving average of $53.37.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping 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 company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the business posted $1.92 earnings per share. 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. As a group, research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared 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. This represents a $1.88 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, September 5th. Molson Coors Beverage's dividend payout ratio is 37.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Sanford C. Bernstein dropped their price target 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. Piper Sandler dropped their price target on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday, June 23rd. Barclays restated an "underweight" rating and issued a $50.00 price target (up from $49.00) on shares of Molson Coors Beverage in a research report on Friday, September 12th. Bank of America lowered Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their price target for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Finally, Citigroup dropped 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 research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and an average target price of $58.18.

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.

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