Meiji Yasuda Asset Management Co Ltd. Sells 340 Shares of Molson Coors Beverage Company $TAP

Meiji Yasuda Asset Management Co Ltd. cut its stake in Molson Coors Beverage Company (NYSE:TAP) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,083 shares of the company’s stock after selling 340 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Molson Coors Beverage were worth $675,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Twin Capital Management Inc. boosted its position in shares of 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 during the period. ProShare Advisors LLC lifted its stake in Molson Coors Beverage by 0.4% in the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company’s stock valued at $2,809,000 after acquiring an additional 206 shares in the last quarter. Callan Family Office LLC lifted its stake in Molson Coors Beverage by 5.0% in the 1st quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock valued at $269,000 after acquiring an additional 209 shares in the last quarter. Forum Financial Management LP boosted 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 acquiring an additional 220 shares during the last quarter. Finally, Millstone Evans Group LLC grew its stake 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 worth $26,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TAP shares. Wells Fargo & Company cut their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 25th. Barclays cut their price target on shares of Molson Coors Beverage from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Citigroup decreased their price objective on Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. Bank of America downgraded Molson Coors Beverage from a “buy” rating to a “neutral” rating and lowered their target price for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Finally, Wall Street Zen cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.12.

Molson Coors Beverage Stock Down 0.8%

Shares of TAP stock opened at $49.05 on Thursday. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 1.80 and a beta of 0.69. The firm’s 50-day moving average is $50.26 and its 200-day moving average is $54.28. 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 (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.22. The business 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%.Molson Coors Beverage’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Sell-side analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.8%. Molson Coors Beverage’s payout ratio is presently 37.08%.

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.