Meridian Investment Counsel Inc. Sells 14,745 Shares of Molson Coors Beverage Company $TAP

Meridian Investment Counsel Inc. decreased its position in Molson Coors Beverage Company (NYSE:TAP) by 39.0% during the 3rd quarter, Holdings Channel reports. The firm owned 23,059 shares of the company’s stock after selling 14,745 shares during the period. Meridian Investment Counsel Inc.’s holdings in Molson Coors Beverage were worth $1,043,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Molson Coors Beverage during the 2nd quarter valued at $134,289,000. Royal London Asset Management Ltd. raised its stake in shares of Molson Coors Beverage by 317.9% during the second quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock valued at $98,297,000 after acquiring an additional 1,554,851 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Molson Coors Beverage during the second quarter worth about $38,377,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Molson Coors Beverage by 2,728.0% in the second 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 holdings 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 during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Down 0.5%

NYSE TAP opened at $45.97 on Thursday. The firm has a market capitalization of $9.08 billion, a PE ratio of -4.30 and a beta of 0.45. The stock’s 50 day moving average is $46.23 and its 200 day moving average is $47.72. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The company has a quick ratio of 0.45, a current ratio of 0.60 and a debt-to-equity ratio of 0.37.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a negative net margin of 15.89% and a positive return on equity of 8.78%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Research analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, December 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is -17.60%.

Insider Activity

In other Molson Coors Beverage news, Director David S. Coors bought 2,245 shares of the stock in a transaction dated Wednesday, November 5th. The stock was purchased at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the completion of the acquisition, the director owned 30,586 shares of the company’s stock, valued at approximately $1,360,159.42. This trade represents a 7.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 stock was bought at an average cost of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the transaction, the director owned 22,654 shares in the company, valued at approximately $1,059,980.66. This represents a 49.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TAP. Piper Sandler lowered their price target on 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. Wells Fargo & Company restated an “equal weight” rating and set a $50.00 target price (down previously from $53.00) on shares of Molson Coors Beverage in a report on Wednesday, November 19th. Sanford C. Bernstein dropped their price target on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $53.59.

Molson Coors Beverage 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.