VIRGINIA RETIREMENT SYSTEMS ET Al Sells 195,300 Shares of Molson Coors Beverage Company $TAP

VIRGINIA RETIREMENT SYSTEMS ET Al trimmed its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 24.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 602,726 shares of the company’s stock after selling 195,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Molson Coors Beverage were worth $27,273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Clearstead Trust LLC grew its holdings in Molson Coors Beverage by 952.8% during the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after buying an additional 505 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after acquiring an additional 221 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares during the last quarter. Cary Street Partners Financial LLC purchased a new stake in Molson Coors Beverage during the 2nd quarter valued at about $61,000. Finally, WFA of San Diego LLC purchased a new position in Molson Coors Beverage in the 2nd quarter worth approximately $64,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on TAP shares. The Goldman Sachs Group lowered their price target on 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. Piper Sandler cut their price target on Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $50.00 target price (down from $53.00) on shares of Molson Coors Beverage in a report on Wednesday, November 19th. JPMorgan Chase & Co. assumed coverage on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. They set a “neutral” rating and a $49.00 target price on the stock. Finally, Needham & Company LLC dropped their price target 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 investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $53.59.

Molson Coors Beverage Trading Up 0.4%

Shares of TAP opened at $46.81 on Wednesday. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The company’s fifty day simple moving average is $46.08 and its 200-day simple moving average is $47.81. The company has a market cap of $9.25 billion, a P/E 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 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 positive return on equity of 8.78% and a negative net margin of 15.89%.The company had revenue of $2.97 billion during 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. As a group, analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given 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 dividend yield of 4.0%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -17.60%.

Insider Transactions at Molson Coors Beverage

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

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.