Raymond James Financial Inc. Decreases Holdings in Molson Coors Beverage Company $TAP

Key Points

• Raymond James Financial Inc. has reduced its holdings in Molson Coors Beverage Company by 14.1%, selling 68,018 shares during the first quarter, resulting in ownership of approximately 414,544 shares valued at about $25.2 million.
• The company reported an earnings per share (EPS) of $2.05 for the last quarter, exceeding analysts' expectations and showing a decline of 1.6% in revenue compared to the same quarter last year.
• Molson Coors has announced a quarterly dividend of $0.47 per share, which will be paid to investors on September 19th, reflecting a 3.6% dividend yield.

Raymond James Financial Inc. cut its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 414,544 shares of the company's stock after selling 68,018 shares during the quarter. Raymond James Financial Inc. owned approximately 0.20% of Molson Coors Beverage worth $25,233,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TAP. Golden State Wealth Management LLC increased its position in shares of Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after purchasing an additional 290 shares during the last quarter. Millstone Evans Group LLC increased its position in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of Molson Coors Beverage by 3,286.7% during the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after purchasing an additional 493 shares during the last quarter. Eastern Bank purchased a new stake in shares of Molson Coors Beverage during the 1st quarter valued at $33,000. Finally, CoreCap Advisors LLC increased its position in shares of Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after purchasing an additional 643 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $51.58 on Tuesday. 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 52-week low of $46.94 and a 52-week high of $64.66. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.92 and a beta of 0.67. The business's fifty day moving average is $49.83 and its 200 day moving average is $54.90.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released 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. 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 analyst estimates of $3.12 billion. During the same period in the previous year, the company posted $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 predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's payout ratio is presently 37.08%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TAP. The Goldman Sachs Group decreased their target price on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Barclays lowered their target price on Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company lowered their target price on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the company a "buy" rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average target price of $58.12.

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.

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