Molson Coors Beverage Company $TAP Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC reduced its stake in Molson Coors Beverage Company (NYSE:TAP) by 43.0% during the second quarter, selling 21,801 shares, while still holding 28,845 shares valued at approximately $1.426 million.
• Molson Coors Beverage recently announced a quarterly dividend of $0.47 per share, resulting in an annualized dividend yield of 4.2%, with a payout ratio of 37.08%.
• Analysts have recently downgraded the price targets for Molson Coors Beverage, with Morgan Stanley and UBS Group lowering their targets to $53.00 and $52.00, respectively, reflecting a cautious outlook on the stock.

Wealth Enhancement Advisory Services LLC cut its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 43.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,845 shares of the company's stock after selling 21,801 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Molson Coors Beverage were worth $1,426,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Capital Management Inc. raised its holdings 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 worth $1,509,000 after purchasing an additional 180 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in 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 purchasing an additional 198 shares during the last quarter. Callan Family Office LLC raised its holdings in Molson Coors Beverage by 5.0% during the first quarter. Callan Family Office LLC now owns 4,426 shares of the company's stock worth $269,000 after purchasing an additional 209 shares during the last quarter. Millstone Evans Group LLC raised its holdings in 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 purchasing an additional 255 shares during the last quarter. Finally, New England Asset Management Inc. raised its holdings in Molson Coors Beverage by 0.6% during the first quarter. New England Asset Management Inc. now owns 45,360 shares of the company's stock worth $2,761,000 after purchasing an additional 280 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on TAP shares. Morgan Stanley reduced their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. UBS Group cut their price target on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Evercore ISI cut their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. The Goldman Sachs Group cut their price target on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Jefferies Financial Group cut their price target on Molson Coors Beverage from $52.00 to $50.00 and set a "hold" rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $57.46.

Molson Coors Beverage Price Performance

TAP stock opened at $45.25 on Wednesday. The stock has a 50-day moving average price of $49.29 and a two-hundred day moving average price of $52.84. The company has a market cap of $8.95 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 1.67 and a beta of 0.69. Molson Coors Beverage Company has a 12-month low of $43.80 and a 12-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.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 earnings per share. 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 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, September 5th. Molson Coors Beverage's payout ratio is currently 37.08%.

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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