Molson Coors Beverage Company $TAP Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 18.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 649,684 shares of the company’s stock after selling 144,646 shares during the period. California Public Employees Retirement System owned approximately 0.32% of Molson Coors Beverage worth $31,243,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Molson Coors Beverage by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,704,932 shares of the company’s stock worth $103,779,000 after buying an additional 20,311 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Molson Coors Beverage during the first quarter valued at approximately $70,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Molson Coors Beverage during the first quarter worth approximately $2,091,000. Nuveen LLC bought a new stake in Molson Coors Beverage during the first quarter worth approximately $22,253,000. Finally, Independent Advisor Alliance acquired a new stake in Molson Coors Beverage in the first quarter worth approximately $209,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

TAP stock opened at $46.82 on Thursday. Molson Coors Beverage Company has a one year low of $42.94 and a one year high of $64.66. The firm has a 50-day moving average of $45.89 and a two-hundred day moving average of $48.39. The firm has a market capitalization of $9.25 billion, a PE ratio of -4.38 and a beta of 0.45. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37.

Molson Coors Beverage (NYSE:TAP) last released 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). The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a positive return on equity of 8.78% and a negative net margin of 15.89%.Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

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 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 payout ratio is -17.60%.

Analysts Set New Price Targets

TAP has been the topic of several research analyst reports. Sanford C. Bernstein lowered their price target on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 5th. Jefferies Financial Group lowered their target price on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Citigroup cut their price target on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Piper Sandler reduced their price objective on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Finally, JPMorgan Chase & Co. started coverage on shares of Molson Coors Beverage in a report on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 target price on the stock. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $53.59.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director David S. Coors acquired 2,245 shares of Molson Coors Beverage stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average cost of $44.47 per share, with a total value of $99,835.15. Following the purchase, the director owned 30,586 shares in the company, valued at approximately $1,360,159.42. The trade was a 7.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew Thomas Molson acquired 7,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director directly owned 22,654 shares in the company, valued at approximately $1,059,980.66. This trade represents a 49.49% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.71% of the stock is owned by corporate insiders.

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.