Molson Coors Beverage Company $TAP Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC lessened its stake in Molson Coors Beverage Company (NYSE:TAP) by 37.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,602 shares of the company’s stock after selling 11,807 shares during the period. Procyon Advisors LLC’s holdings in Molson Coors Beverage were worth $887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after purchasing an additional 198 shares during the period. Signet Financial Management LLC increased its position in Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock worth $277,000 after buying an additional 208 shares during the period. Smartleaf Asset Management LLC lifted its stake in Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after buying an additional 221 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Molson Coors Beverage by 1.1% during the second quarter. Yousif Capital Management LLC now owns 19,531 shares of the company’s stock worth $939,000 after acquiring an additional 222 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in shares of Molson Coors Beverage by 1.7% in the 2nd quarter. Penserra Capital Management LLC now owns 15,699 shares of the company’s stock valued at $754,000 after acquiring an additional 257 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of TAP opened at $50.61 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $46.85 and its two-hundred day moving average is $47.78. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The firm has a market capitalization of $10.00 billion, a PE ratio of -4.74 and a beta of 0.45.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results 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 business 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. Research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, December 5th. Molson Coors Beverage’s payout ratio is presently -17.60%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TAP shares. UBS Group increased their price target on shares of Molson Coors Beverage from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday. BNP Paribas downgraded shares of Molson Coors Beverage to an “underperform” rating in a research note on Friday. Barclays lowered their price target on Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating on the stock in a report on Thursday, November 6th. JPMorgan Chase & Co. started coverage on Molson Coors Beverage in a research note on Wednesday, November 5th. They set a “neutral” rating and a $49.00 price objective for the company. Finally, Needham & Company LLC lowered their target price on Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $53.79.

Insider Transactions at Molson Coors Beverage

In related news, Director Andrew Thomas Molson bought 7,500 shares of the company’s stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $46.79 per share, with a total value of $350,925.00. Following the completion of the acquisition, the director owned 22,654 shares in the company, valued at approximately $1,059,980.66. This represents a 49.49% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director David S. Coors purchased 2,245 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were purchased at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the purchase, the director directly owned 30,586 shares in the company, valued at approximately $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.71% of the company’s stock.

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.