Garner Asset Management Corp Sells 1,119 Shares of Molson Coors Beverage Company $TAP

Garner Asset Management Corp lowered its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 6.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,576 shares of the company’s stock after selling 1,119 shares during the period. Garner Asset Management Corp’s holdings in Molson Coors Beverage were worth $797,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. increased its holdings in Molson Coors Beverage by 414.3% in the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock valued at $120,960,000 after purchasing an additional 1,600,748 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Molson Coors Beverage during the 2nd quarter worth about $38,377,000. Dimensional Fund Advisors LP grew its position in shares of Molson Coors Beverage by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after buying an additional 750,388 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Molson Coors Beverage by 72.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company’s stock valued at $84,024,000 after buying an additional 579,649 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Molson Coors Beverage by 24.2% in the first quarter. Deutsche Bank AG now owns 2,797,189 shares of the company’s stock valued at $170,265,000 after buying an additional 544,353 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Insider Transactions at Molson Coors Beverage

In other news, Director David S. Coors acquired 2,245 shares of Molson Coors Beverage stock in a transaction on Wednesday, November 5th. The stock was purchased at an average price of $44.47 per share, with a total value of $99,835.15. Following the completion of the purchase, the director owned 30,586 shares of the company’s stock, valued at approximately $1,360,159.42. The trade was a 7.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Thomas Molson bought 7,500 shares of the stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the transaction, the director directly owned 22,654 shares of the company’s stock, valued at $1,059,980.66. This trade represents a 49.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 2.71% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $46.67 on Thursday. 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 Company has a twelve month low of $42.94 and a twelve month high of $64.66. The company has a fifty day moving average of $45.73 and a 200-day moving average of $49.05. The firm has a market capitalization of $9.22 billion, a P/E ratio of 9.21, a P/E/G ratio of 1.60 and a beta of 0.65.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.05). The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, sell-side analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.47 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.88 annualized dividend and a dividend yield of 4.0%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -17.60%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Citigroup cut their price objective on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, October 9th. Jefferies Financial Group dropped their price target on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. UBS Group decreased their price objective on shares of Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Monday. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $53.59.

Molson Coors Beverage 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.