Fluent Financial LLC Boosts Stake in Molson Coors Beverage Company $TAP

Fluent Financial LLC increased its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 34.9% in the second quarter, HoldingsChannel.com reports. The firm owned 91,882 shares of the company’s stock after buying an additional 23,746 shares during the period. Molson Coors Beverage accounts for approximately 1.8% of Fluent Financial LLC’s portfolio, making the stock its 15th largest holding. Fluent Financial LLC’s holdings in Molson Coors Beverage were worth $4,419,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in Molson Coors Beverage by 14.7% in the 1st quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock valued at $14,498,000 after buying an additional 30,463 shares during the period. Nuveen LLC purchased a new position in Molson Coors Beverage in the 1st quarter valued at approximately $22,253,000. Kendall Capital Management boosted its position in Molson Coors Beverage by 42.7% in the 1st quarter. Kendall Capital Management now owns 19,995 shares of the company’s stock valued at $1,217,000 after buying an additional 5,985 shares during the period. Jump Financial LLC boosted its position in Molson Coors Beverage by 205.4% in the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after buying an additional 16,349 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Molson Coors Beverage by 7.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company’s stock valued at $1,352,000 after buying an additional 1,606 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 1.3%

NYSE TAP opened at $45.60 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The firm has a market cap of $9.02 billion, a PE ratio of 8.99, a P/E/G ratio of 1.68 and a beta of 0.63. Molson Coors Beverage Company has a one year low of $43.80 and a one year high of $64.66. The firm’s fifty day moving average is $48.73 and its two-hundred day moving average is $52.35.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.22. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The business’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 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Analysts expect 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 disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.1%. Molson Coors Beverage’s payout ratio is currently 37.08%.

Wall Street Analysts Forecast Growth

TAP has been the subject of several recent research reports. Sanford C. Bernstein decreased their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, July 9th. Bank of America cut shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and decreased their price target for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Barclays restated an “underweight” rating and issued a $50.00 price objective (up from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Wells Fargo & Company reduced their price objective on shares of Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Molson Coors Beverage in a report on Saturday, September 27th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $56.74.

Molson Coors Beverage Company 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.