Molson Coors Beverage Company $TAP Shares Sold by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC reduced its stake in Molson Coors Beverage Company by 56.4% in Q2, ending with 5,725 shares worth $275,000 after selling 7,393 shares during the quarter.
• Molson Coors Beverage's stock price is currently $46.55, down 0.7%, with a market capitalization of $9.20 billion and a P/E ratio of 9.18.
• The company reported $2.05 earnings per share for the last quarter, exceeding analysts' estimates of $1.83, even though revenue was down 1.6% year-over-year.

Pallas Capital Advisors LLC trimmed its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 56.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 5,725 shares of the company's stock after selling 7,393 shares during the period. Pallas Capital Advisors LLC's holdings in Molson Coors Beverage were worth $275,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. LSV Asset Management grew its position in Molson Coors Beverage by 1.4% in the first quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock worth $387,711,000 after acquiring an additional 86,601 shares during the period. Clarkston Capital Partners LLC grew its position in Molson Coors Beverage by 0.7% in the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company's stock worth $277,154,000 after acquiring an additional 33,535 shares during the period. Dimensional Fund Advisors LP grew its position in Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock worth $274,144,000 after acquiring an additional 750,388 shares during the period. Bank of New York Mellon Corp grew its position in Molson Coors Beverage by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock worth $251,442,000 after acquiring an additional 595,203 shares during the period. Finally, Deutsche Bank AG grew its position in Molson Coors Beverage by 24.2% in the first quarter. Deutsche Bank AG now owns 2,797,189 shares of the company's stock worth $170,265,000 after acquiring an additional 544,353 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 3.0%

Molson Coors Beverage stock traded down $1.42 during midday trading on Monday, reaching $45.15. The company's stock had a trading volume of 3,558,069 shares, compared to its average volume of 2,230,374. Molson Coors Beverage Company has a fifty-two week low of $45.08 and a fifty-two week high of $64.66. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market cap of $8.93 billion, a P/E ratio of 8.91, a P/E/G ratio of 1.70 and a beta of 0.69. The business has a 50-day simple moving average of $49.91 and a 200-day simple moving average of $53.43.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted 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 return on equity of 8.61% and a net margin of 7.81%.The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the firm earned $1.92 earnings per share. Molson Coors Beverage's quarterly 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. On average, research analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a dividend of $0.47 per share. The ex-dividend date was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.2%. Molson Coors Beverage's payout ratio is 37.08%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Evercore ISI lowered their price objective 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. Needham & Company LLC lowered their price target on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Barclays restated an "underweight" rating and set 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 lowered their price target for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Finally, Morgan Stanley lowered their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $58.18.

Molson Coors Beverage Company 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.