Highland Capital Management LLC Reduces Stock Position in Molson Coors Beverage Company $TAP

Highland Capital Management LLC reduced its holdings in Molson Coors Beverage Company (NYSE:TAP) by 49.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,840 shares of the company’s stock after selling 62,170 shares during the period. Highland Capital Management LLC’s holdings in Molson Coors Beverage were worth $3,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Twin Capital Management Inc. lifted its holdings in shares of Molson Coors Beverage by 0.7% in 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. Geneos Wealth Management Inc. lifted its holdings in shares of Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after acquiring an additional 198 shares during the last quarter. Signet Financial Management LLC lifted its holdings in shares of Molson Coors Beverage by 3.7% in the 2nd quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock worth $277,000 after acquiring an additional 208 shares during the last quarter. Callan Family Office LLC lifted its holdings in shares of Molson Coors Beverage by 5.0% in the 1st quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after acquiring an additional 209 shares during the last quarter. Finally, Millstone Evans Group LLC lifted its holdings in shares of Molson Coors Beverage by 151.8% in 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 during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 0.5%

NYSE:TAP opened at $46.40 on Friday. Molson Coors Beverage Company has a one year low of $43.80 and a one year high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The firm has a market cap of $9.17 billion, a P/E ratio of 9.15, a P/E/G ratio of 1.69 and a beta of 0.63. The firm has a 50-day simple moving average of $48.98 and a 200-day simple moving average of $52.58.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS 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 business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the business posted $1.92 EPS. The company’s quarterly 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. Equities analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were issued a $0.47 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.88 annualized dividend and a dividend yield of 4.1%. Molson Coors Beverage’s payout ratio is currently 37.08%.

Analysts Set New Price Targets

TAP has been the subject of several analyst reports. Piper Sandler lowered their target price on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Morgan Stanley lowered their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. Sanford C. Bernstein decreased their price objective on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a report on Wednesday, July 9th. Jefferies Financial Group decreased their price objective on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, September 30th. Finally, Bank of America lowered shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $65.00 to $50.00 in a report on Friday, June 27th. Six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $56.88.

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.