Molson Coors Beverage Company $TAP Position Reduced by Prudential Financial Inc.

Prudential Financial Inc. trimmed its position in Molson Coors Beverage Company (NYSE:TAP) by 4.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,689 shares of the company’s stock after selling 6,348 shares during the period. Prudential Financial Inc.’s holdings in Molson Coors Beverage were worth $6,477,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Molson Coors Beverage in the first quarter worth about $22,253,000. Jump Financial LLC raised its holdings in shares of Molson Coors Beverage by 205.4% during the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after acquiring an additional 16,349 shares during the period. Signaturefd LLC lifted its position in shares of Molson Coors Beverage by 79.8% in the 2nd quarter. Signaturefd LLC now owns 2,861 shares of the company’s stock valued at $138,000 after acquiring an additional 1,270 shares in the last quarter. Swiss National Bank lifted its position in shares of Molson Coors Beverage by 5.5% in the 2nd quarter. Swiss National Bank now owns 537,600 shares of the company’s stock valued at $25,853,000 after acquiring an additional 27,900 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Molson Coors Beverage by 32.8% in the 1st quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock worth $28,424,000 after purchasing an additional 115,186 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Molson Coors Beverage Price Performance

TAP opened at $46.57 on Friday. The stock has a fifty day moving average price of $45.72 and a 200 day moving average price of $48.93. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a 1 year low of $42.94 and a 1 year high of $64.66. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 9.18, a PEG 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 for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Analysts forecast 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, December 19th. Investors of record on Friday, December 5th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, December 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -17.60%.

Analysts Set New Price Targets

TAP has been the topic of several recent analyst reports. Jefferies Financial Group cut their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Needham & Company LLC lowered their price target on Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. JPMorgan Chase & Co. assumed coverage on Molson Coors Beverage in a research report on Wednesday, November 5th. They set a “neutral” rating and a $49.00 price target on the stock. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Monday, November 24th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average 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.