Greenwood Capital Associates LLC Decreases Holdings in Molson Coors Beverage Company $TAP

Greenwood Capital Associates LLC trimmed its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,578 shares of the company’s stock after selling 471 shares during the period. Greenwood Capital Associates LLC’s holdings in Molson Coors Beverage were worth $413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Molson Coors Beverage by 9.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,344 shares of the company’s stock worth $1,171,000 after buying an additional 2,014 shares in the last quarter. Lecap Asset Management Ltd. lifted its stake in shares of Molson Coors Beverage by 54.4% in the second quarter. Lecap Asset Management Ltd. now owns 9,656 shares of the company’s stock worth $464,000 after buying an additional 3,403 shares in the last quarter. ASR Vermogensbeheer N.V. lifted its stake in shares of Molson Coors Beverage by 0.6% in the second quarter. ASR Vermogensbeheer N.V. now owns 91,359 shares of the company’s stock worth $4,393,000 after buying an additional 504 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Molson Coors Beverage by 13.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 755,266 shares of the company’s stock worth $36,321,000 after buying an additional 90,716 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new position in shares of Molson Coors Beverage in the second quarter worth about $7,437,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 0.5%

Shares of TAP stock opened at $46.40 on Friday. 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 stock has a market capitalization of $9.17 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. The company has a 50 day moving average price of $48.98 and a 200 day moving average price of $52.62. Molson Coors Beverage Company has a fifty-two week low of $43.80 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share 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 firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same quarter in the previous year, the business posted $1.92 earnings per share. The business’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 research analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America downgraded shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $65.00 to $50.00 in a research note on Friday, June 27th. Weiss Ratings restated a “hold (c-)” rating on shares of Molson Coors Beverage in a research report on Saturday, September 27th. Piper Sandler cut their price objective on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, UBS Group cut their price objective on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.88.

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.