QRG Capital Management Inc. Cuts Stake in Molson Coors Beverage Company $TAP

QRG Capital Management Inc. lessened its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 84.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,791 shares of the company’s stock after selling 49,427 shares during the quarter. QRG Capital Management Inc.’s holdings in Molson Coors Beverage were worth $398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Molson Coors Beverage in the second quarter valued at about $134,289,000. Royal London Asset Management Ltd. raised its position in shares of Molson Coors Beverage by 317.9% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock valued at $98,297,000 after purchasing an additional 1,554,851 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Molson Coors Beverage in the 2nd quarter worth approximately $38,377,000. Arrowstreet Capital Limited Partnership grew its position in Molson Coors Beverage by 2,728.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 730,153 shares of the company’s stock worth $35,113,000 after purchasing an additional 704,334 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Molson Coors Beverage by 17.2% during the 2nd quarter. Invesco Ltd. now owns 4,277,685 shares of the company’s stock valued at $205,714,000 after purchasing an additional 626,639 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Molson Coors Beverage from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Evercore ISI dropped their price target on Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Monday, December 29th. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Finally, The Goldman Sachs Group reduced their price target on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average target price of $53.18.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, Director David S. Coors acquired 2,245 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was acquired at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the completion of the transaction, the director directly owned 30,586 shares of the company’s stock, valued at $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Thomas Molson bought 7,500 shares of Molson Coors Beverage stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of $46.79 per share, with a total value of $350,925.00. Following the completion of the purchase, the director owned 22,654 shares in the company, valued at approximately $1,059,980.66. This trade represents a 49.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.71% of the stock is currently owned by company insiders.

Molson Coors Beverage Trading Down 0.9%

Shares of NYSE:TAP opened at $49.34 on Friday. The company has a market capitalization of $9.75 billion, a PE ratio of -4.62 and a beta of 0.45. Molson Coors Beverage Company has a 12-month low of $42.94 and a 12-month high of $64.66. The business has a 50 day moving average of $47.21 and a two-hundred day moving average of $47.80. 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 posted its earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) 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 analyst estimates of $3.02 billion. Molson Coors Beverage had a negative net margin of 15.89% and a positive return on equity of 8.78%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.8%. Molson Coors Beverage’s dividend payout ratio is presently -17.60%.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.