Cetera Investment Advisers Reduces Stock Position in Molson Coors Beverage Company $TAP

Cetera Investment Advisers decreased its holdings in Molson Coors Beverage Company (NYSE:TAP) by 38.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,632 shares of the company’s stock after selling 16,370 shares during the period. Cetera Investment Advisers’ holdings in Molson Coors Beverage were worth $1,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Elequin Capital LP bought a new position in shares of Molson Coors Beverage in the first quarter worth about $30,000. Clearstead Trust LLC boosted its position in Molson Coors Beverage by 952.8% in the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after buying an additional 505 shares during the period. Geneos Wealth Management Inc. grew its stake in Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after acquiring an additional 198 shares in the last quarter. Bayforest Capital Ltd increased its position in shares of Molson Coors Beverage by 735.5% during the first quarter. Bayforest Capital Ltd now owns 1,153 shares of the company’s stock worth $70,000 after acquiring an additional 1,015 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Molson Coors Beverage during the first quarter valued at approximately $70,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $46.54 on Wednesday. The stock’s 50-day moving average is $45.81 and its 200 day moving average is $48.74. Molson Coors Beverage Company has a 1-year low of $42.94 and a 1-year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The company has a market cap of $9.20 billion, a P/E ratio of 9.18, a PEG ratio of 1.60 and a beta of 0.45.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, December 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is -17.60%.

Analyst Upgrades and Downgrades

TAP has been the topic of several research analyst reports. Roth Capital reissued a “buy” rating and issued a $65.00 price objective (down previously from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Wells Fargo & Company reissued an “equal weight” rating and set a $50.00 price target (down previously from $53.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 19th. Sanford C. Bernstein decreased their price objective on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. started coverage on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 price objective for the company. Finally, 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 report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $53.59.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director David S. Coors purchased 2,245 shares of Molson Coors Beverage stock in a transaction dated Wednesday, November 5th. The shares were acquired 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 owned 30,586 shares in the company, valued at approximately $1,360,159.42. This trade represents a 7.92% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew Thomas Molson acquired 7,500 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $46.79 per share, with a total value of $350,925.00. Following the acquisition, the director owned 22,654 shares in the company, valued at approximately $1,059,980.66. The trade was a 49.49% increase in their position. The SEC filing for this purchase provides additional information. 2.71% of the stock is currently owned by insiders.

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.