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

A number of other hedge funds and other institutional investors have also bought and sold shares of TAP. DoubleLine ETF Adviser LP grew its holdings in Molson Coors Beverage by 1.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock worth $590,000 after acquiring an additional 170 shares during the last quarter. Twin Capital Management Inc. grew its holdings in Molson Coors Beverage by 0.7% during the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock worth $1,509,000 after acquiring an additional 180 shares during the last quarter. ProShare Advisors LLC grew its holdings in Molson Coors Beverage by 0.4% during the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after acquiring an additional 206 shares during the last quarter. Callan Family Office LLC raised its position in Molson Coors Beverage by 5.0% during the 1st 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. Finally, Forum Financial Management LP raised its position in Molson Coors Beverage by 4.4% during the 4th quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock worth $299,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 0.5%

TAP traded up $0.23 during midday trading on Friday, hitting $50.45. The company had a trading volume of 1,714,557 shares, compared to its average volume of 2,573,391. Molson Coors Beverage Company has a 52 week low of $46.94 and a 52 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 capitalization of $10.20 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 1.84 and a beta of 0.69. The stock's 50 day moving average price is $49.98 and its 200 day moving average price is $54.78.

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 the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. The business's revenue 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. On average, research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's payout ratio is 37.08%.

Analyst Ratings Changes

TAP has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Piper Sandler lowered their target price 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. Sanford C. Bernstein lowered their target price 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. Morgan Stanley cut their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target 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.