Kiker Wealth Management LLC Purchases 10,532 Shares of Molson Coors Beverage Company $TAP

Kiker Wealth Management LLC grew its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 1,053,200.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,533 shares of the company’s stock after acquiring an additional 10,532 shares during the quarter. Kiker Wealth Management LLC’s holdings in Molson Coors Beverage were worth $507,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC boosted its position in shares of Molson Coors Beverage by 5.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 10,374 shares of the company’s stock valued at $499,000 after acquiring an additional 582 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Molson Coors Beverage by 68.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,252 shares of the company’s stock valued at $301,000 after acquiring an additional 2,546 shares during the last quarter. Yousif Capital Management LLC boosted its position in shares of Molson Coors Beverage by 1.1% during the 2nd quarter. Yousif Capital Management LLC now owns 19,531 shares of the company’s stock valued at $939,000 after acquiring an additional 222 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Molson Coors Beverage by 9.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,406 shares of the company’s stock valued at $1,270,000 after acquiring an additional 2,270 shares during the last quarter. Finally, Aberdeen Group plc boosted its position in shares of Molson Coors Beverage by 14.0% during the 2nd quarter. Aberdeen Group plc now owns 191,462 shares of the company’s stock valued at $9,207,000 after acquiring an additional 23,460 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America downgraded Molson Coors Beverage from a “buy” rating to a “neutral” rating and lowered their target price for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Needham & Company LLC lowered their price target 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. Sanford C. Bernstein lowered their price target on Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, July 9th. Jefferies Financial Group lowered their price target on Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. lowered their price target 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. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.62.

Molson Coors Beverage Stock Performance

TAP stock opened at $46.03 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $48.58 and its two-hundred day simple moving average is $51.95. Molson Coors Beverage Company has a twelve month low of $43.80 and a twelve month high of $64.66. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.68 and a beta of 0.63.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the firm posted $1.92 earnings per share. The business’s 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. Analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a dividend of $0.47 per share. 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 dividend payout ratio (DPR) is currently 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.