Kestra Advisory Services LLC Has $2.50 Million Holdings in Molson Coors Beverage Company $TAP

Kestra Advisory Services LLC lessened its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,993 shares of the company’s stock after selling 1,018 shares during the quarter. Kestra Advisory Services LLC’s holdings in Molson Coors Beverage were worth $2,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of TAP. Price T Rowe Associates Inc. MD grew its holdings in shares of Molson Coors Beverage by 0.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 370,690 shares of the company’s stock worth $21,249,000 after purchasing an additional 2,745 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Molson Coors Beverage during the 4th quarter worth approximately $756,000. Quarry LP lifted its position in shares of Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after buying an additional 254 shares during the period. Beacon Pointe Advisors LLC lifted its position in shares of Molson Coors Beverage by 16.7% during the 4th quarter. Beacon Pointe Advisors LLC now owns 4,388 shares of the company’s stock worth $252,000 after buying an additional 629 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Molson Coors Beverage by 12.7% during the 4th quarter. Northern Trust Corp now owns 1,970,718 shares of the company’s stock worth $112,962,000 after buying an additional 221,539 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TAP shares. Needham & Company LLC cut their target price on Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Citigroup cut their target price on Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Wall Street Zen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Bank of America downgraded Molson Coors Beverage from a “buy” rating to a “neutral” rating and cut their target price for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Finally, Barclays cut their target price on Molson Coors Beverage from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.12.

Molson Coors Beverage Trading Down 1.8%

Shares of TAP opened at $50.19 on Friday. The stock has a fifty day moving average price of $49.93 and a two-hundred day moving average price of $54.82. 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. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.86 and a beta of 0.67.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the company posted $1.92 EPS. The business’s revenue for the quarter 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. Analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.47 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.7%. 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.