Voya Investment Management LLC Has $1.96 Million Holdings in Molson Coors Beverage Company $TAP

Voya Investment Management LLC lessened its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 20.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 43,310 shares of the company’s stock after selling 11,473 shares during the period. Voya Investment Management LLC’s holdings in Molson Coors Beverage were worth $1,960,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TAP. Clearstead Trust LLC raised its stake in Molson Coors Beverage by 952.8% during the second quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock worth $27,000 after acquiring an additional 505 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares in the last quarter. Bayforest Capital Ltd lifted its holdings in Molson Coors Beverage by 735.5% during the 1st quarter. Bayforest Capital Ltd now owns 1,153 shares of the company’s stock valued at $70,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new position in Molson Coors Beverage in the second quarter valued at about $61,000. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TAP shares. JPMorgan Chase & Co. assumed coverage on shares of Molson Coors Beverage in a report on Wednesday, November 5th. They set a “neutral” rating and a $49.00 price objective for the company. Roth Capital reaffirmed a “buy” rating and set a $65.00 price target (down from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th. Needham & Company LLC decreased their target price on Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Wells Fargo & Company restated an “equal weight” rating and issued a $50.00 target price (down from $53.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 19th. Finally, Barclays cut their price target on Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating for the company in a report on Thursday, November 6th. 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 stock. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $53.59.

Molson Coors Beverage Trading Up 0.2%

TAP stock opened at $46.44 on Monday. The company has a market cap of $9.18 billion, a P/E ratio of -4.35 and a beta of 0.45. 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. The business has a fifty day moving average of $46.08 and a 200-day moving average of $47.87.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share 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 firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, equities research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Andrew Thomas Molson bought 7,500 shares of Molson Coors Beverage stock in a transaction on 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 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David S. Coors bought 2,245 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were bought at an average price of $44.47 per share, with a total value of $99,835.15. Following the completion of the transaction, the director directly owned 30,586 shares in the company, valued at approximately $1,360,159.42. This trade represents a 7.92% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.71% of the stock is currently owned by insiders.

About Molson Coors Beverage

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.