Wilsey Asset Management Inc. Grows Stock Holdings in Molson Coors Beverage Company $TAP

Key Points

• Wilsey Asset Management Inc. increased its stake in Molson Coors Beverage Company by 1.6% in the second quarter, holding a total of 563,440 shares valued at approximately $27.1 million.
• Several analysts have lowered their target prices for Molson Coors, with Goldman Sachs setting a new target of $67.00 and a consensus rating of "Hold" among analysts.
• Molson Coors recently reported earnings of $2.05 EPS, exceeding expectations, despite a 1.6% decline in revenue year-over-year.

Wilsey Asset Management Inc. raised its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 563,440 shares of the company's stock after buying an additional 8,758 shares during the period. Molson Coors Beverage comprises 5.0% of Wilsey Asset Management Inc.'s portfolio, making the stock its 12th largest holding. Wilsey Asset Management Inc. owned 0.28% of Molson Coors Beverage worth $27,096,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Twin Capital Management Inc. increased its holdings 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 valued at $1,509,000 after buying an additional 180 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after purchasing an additional 198 shares during the last quarter. Callan Family Office LLC lifted its position 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 valued at $269,000 after purchasing an additional 209 shares during the last quarter. Forum Financial Management LP lifted its position 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 valued at $299,000 after purchasing an additional 220 shares during the last quarter. Finally, Millstone Evans Group LLC lifted its position in Molson Coors Beverage by 151.8% during the first 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. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Needham & Company LLC cut 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 report on Wednesday, August 6th. JPMorgan Chase & Co. cut their target price on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Wells Fargo & Company lowered 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 report on Wednesday, June 25th. Finally, Morgan Stanley lowered 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 report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and a consensus target price of $58.18.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $44.01 on Wednesday. The company has a fifty day simple moving average of $49.81 and a 200-day simple moving average of $53.37. 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 has a market capitalization of $8.70 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 1.64 and a beta of 0.69. Molson Coors Beverage Company has a 52-week low of $43.99 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. Molson Coors Beverage'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. On average, equities analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.3%. The ex-dividend date was Friday, September 5th. Molson Coors Beverage's dividend 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.

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