Palogic Value Management L.P. Has $897,000 Position in Molson Coors Beverage Company $TAP

Key Points

• Palogic Value Management L.P. has reduced its holdings in Molson Coors Beverage Company (NYSE:TAP) by 61.9% during the first quarter, holding 14,742 shares valued at $897,000.
• Institutional investors show increased interest, with Ameriprise Financial increasing its stake by 414.3%, now holding over 1.9 million shares valued at $120.96 million.
• Molson Coors reported $2.05 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $3.20 billion, which was slightly above estimates.

Palogic Value Management L.P. cut its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 61.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,742 shares of the company's stock after selling 23,945 shares during the quarter. Palogic Value Management L.P.'s holdings in Molson Coors Beverage were worth $897,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TAP. Ameriprise Financial Inc. increased its holdings in shares of Molson Coors Beverage by 414.3% during the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company's stock worth $120,960,000 after acquiring an additional 1,600,748 shares during the last quarter. Fairfax Financial Holdings Ltd. Can acquired a new position in shares of Molson Coors Beverage during the 4th quarter worth approximately $68,010,000. KBC Group NV grew its holdings in Molson Coors Beverage by 269.1% in the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company's stock valued at $75,329,000 after buying an additional 902,296 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Molson Coors Beverage by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock valued at $274,144,000 after buying an additional 750,388 shares in the last quarter. Finally, Estuary Capital Management LP acquired a new position in Molson Coors Beverage in the 4th quarter valued at $39,052,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $50.45 on Friday. The stock has a fifty day moving average price of $49.98 and a 200-day moving average price of $54.80. The company has a market cap of $10.20 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. Molson Coors Beverage Company has a fifty-two week low of $46.94 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last 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, equities analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Analysts Set New Price Targets

A number of research analysts have commented on TAP shares. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. Wall Street Zen lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Bank of America lowered Molson Coors Beverage from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $65.00 to $50.00 in a report on Friday, June 27th. UBS Group decreased their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Finally, Needham & Company LLC decreased their price objective on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Six equities 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.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $58.12.

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.

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