BI Asset Management Fondsmaeglerselskab A S Has $958,000 Stock Holdings in Molson Coors Beverage Company $TAP

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 54.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,733 shares of the company’s stock after selling 18,735 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Molson Coors Beverage were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. DoubleLine ETF Adviser LP grew its position in shares of Molson Coors Beverage by 1.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock worth $590,000 after buying an additional 170 shares during the period. Twin Capital Management Inc. grew its position in shares of Molson Coors Beverage by 0.7% during the 1st 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 grew its position in shares of Molson Coors Beverage by 0.4% during the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company’s stock worth $2,809,000 after buying an additional 206 shares during the period. Callan Family Office LLC grew its position in shares of Molson Coors Beverage by 5.0% during the 1st quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after buying an additional 209 shares during the period. Finally, Forum Financial Management LP grew its position in shares of 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 buying an additional 220 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TAP shares. Morgan Stanley decreased their target price on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a “buy” rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. decreased their price objective on Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, July 31st. Piper Sandler decreased their price objective on Molson Coors Beverage from $58.00 to $53.00 and set a “neutral” rating for the company in a research report on Monday, June 23rd. Finally, Wells Fargo & Company decreased their price objective on Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Wednesday, June 25th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.12.

Molson Coors Beverage Price Performance

Shares of TAP opened at $52.7750 on Friday. The firm has a market capitalization of $10.67 billion, a PE ratio of 10.41, a P/E/G ratio of 1.88 and a beta of 0.67. The stock has a 50 day simple moving average of $49.79 and a 200 day simple moving average of $54.91. 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 Company has a 52-week low of $46.94 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its 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. The firm 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 business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.92 EPS. 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 fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.47 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.6%. Molson Coors Beverage’s 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.