Ruffer LLP Sells 5,697 Shares of Molson Coors Beverage Company $TAP

Key Points

• Ruffer LLP reduced its stake in Molson Coors Beverage by 3.0%, selling 5,697 shares and holding a total of 183,014 shares valued at approximately $8.8 million.
• The average target price set by analysts for Molson Coors Beverage is $58.18, with six analysts recommending a Buy rating and one a Sell rating.
• Molson Coors Beverage reported earnings of $2.05 per share for the latest quarter, exceeding estimates, alongside a quarterly dividend of $0.47 per share yielding 4.1%.

Ruffer LLP lowered its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,014 shares of the company's stock after selling 5,697 shares during the quarter. Ruffer LLP owned about 0.09% of Molson Coors Beverage worth $8,801,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TAP. Twin Capital Management Inc. boosted its stake 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 buying an additional 180 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake 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 buying an additional 198 shares in the last quarter. Signet Financial Management LLC boosted its stake in Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company's stock worth $277,000 after buying an additional 208 shares in the last quarter. Callan Family Office LLC boosted its stake 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 buying an additional 209 shares in the last quarter. Finally, Forum Financial Management LP boosted its stake in Molson Coors Beverage by 4.4% during the fourth quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock worth $299,000 after buying an additional 220 shares in the last quarter. Institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TAP. Wells Fargo & Company decreased their price target on shares of 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. Barclays restated an "underweight" rating and issued a $50.00 target price (up previously from $49.00) on shares of Molson Coors Beverage in a research note on Friday, September 12th. Needham & Company LLC reduced their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Sanford C. Bernstein reduced their target price on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 9th. Finally, Evercore ISI reduced their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $58.18.

Molson Coors Beverage Stock Up 2.9%

Shares of NYSE TAP opened at $45.39 on Thursday. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 1.61 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 quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The firm's 50-day simple moving average is $49.72 and its 200 day simple moving average is $53.31.

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 for the quarter, topping the consensus estimate of $1.83 by $0.22. The firm had revenue of $3.20 billion during 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 company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 EPS. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend 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.

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage Company (NYSE:TAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.