Narwhal Capital Management Sells 2,915 Shares of Molson Coors Beverage Company $TAP

Narwhal Capital Management cut its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 26.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,160 shares of the company’s stock after selling 2,915 shares during the period. Narwhal Capital Management’s holdings in Molson Coors Beverage were worth $392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Twin Capital Management Inc. boosted its stake in shares of Molson Coors Beverage by 0.7% during the first quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock valued at $1,509,000 after purchasing an additional 180 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Molson Coors Beverage by 32.9% during the first 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 boosted its stake in shares of Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock valued at $277,000 after purchasing an additional 208 shares during the period. Callan Family Office LLC boosted its stake in shares of Molson Coors Beverage by 5.0% during the first quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock valued at $269,000 after purchasing an additional 209 shares during the period. Finally, Millstone Evans Group LLC boosted its stake in shares of Molson Coors Beverage by 151.8% during the first quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

TAP opened at $45.60 on Thursday. The stock has a fifty day simple moving average of $48.73 and a two-hundred day simple moving average of $52.35. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.02 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. Molson Coors Beverage Company has a 12-month low of $43.80 and a 12-month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.Molson Coors Beverage’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, September 5th. Molson Coors Beverage’s payout ratio is currently 37.08%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TAP. Bank of America lowered Molson Coors Beverage from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Jefferies Financial Group dropped their price objective on Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, September 30th. Piper Sandler dropped their price target on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. The Goldman Sachs Group dropped their price target on Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company dropped their price target on Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.74.

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.