Sound Income Strategies LLC Purchases 7,316 Shares of Molson Coors Beverage Company $TAP

Key Points

• Sound Income Strategies LLC increased its holdings in Molson Coors Beverage Company by 7.2%, purchasing an additional 7,316 shares, bringing their total to 109,037 shares valued at $5.24 million.
• Analysts have recently adjusted their price targets for Molson Coors beverage, with Goldman Sachs lowering its target from $77.00 to $67.00, along with negative adjustments from several other firms.
• Molson Coors reported earnings per share of $2.05 for the latest quarter, surpassing estimates, despite a year-over-year revenue decline of 1.6%.

Sound Income Strategies LLC increased its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 7.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,037 shares of the company's stock after buying an additional 7,316 shares during the quarter. Sound Income Strategies LLC owned 0.05% of Molson Coors Beverage worth $5,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Molson Coors Beverage by 14.7% in the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company's stock valued at $14,498,000 after purchasing an additional 30,463 shares during the last quarter. Nuveen LLC bought a new stake in Molson Coors Beverage in the first quarter valued at approximately $22,253,000. Kendall Capital Management lifted its position in Molson Coors Beverage by 42.7% in the first quarter. Kendall Capital Management now owns 19,995 shares of the company's stock valued at $1,217,000 after purchasing an additional 5,985 shares during the last quarter. Jump Financial LLC lifted its position in Molson Coors Beverage by 205.4% in the first quarter. Jump Financial LLC now owns 24,307 shares of the company's stock valued at $1,480,000 after purchasing an additional 16,349 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Molson Coors Beverage by 7.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company's stock valued at $1,352,000 after purchasing an additional 1,606 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on TAP shares. The Goldman Sachs Group lowered their price objective 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. Evercore ISI lowered their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Citigroup lowered their price objective on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Sanford C. Bernstein lowered their price objective 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. Finally, Bank of America downgraded Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $57.99.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $44.87 on Monday. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.63 and a beta of 0.69. The business's fifty day moving average is $49.50 and its 200 day moving average is $52.99. Molson Coors Beverage Company has a twelve month low of $43.80 and a twelve 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.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results 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 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 revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, September 5th. Molson Coors Beverage's dividend payout ratio is presently 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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