Molson Coors Beverage (NYSE:TAP) Posts Earnings Results, Beats Expectations By $0.04 EPS

Molson Coors Beverage (NYSE:TAP) announced its earnings results on Wednesday. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.04, FiscalAI reports. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a negative net margin of 15.89% and a positive return on equity of 8.78%.

Molson Coors Beverage Price Performance

Shares of TAP traded down $0.01 on Wednesday, reaching $50.90. The stock had a trading volume of 4,431,687 shares, compared to its average volume of 3,079,760. Molson Coors Beverage has a twelve month low of $42.94 and a twelve month high of $64.66. The firm has a market capitalization of $10.06 billion, a PE ratio of -4.77 and a beta of 0.48. The firm has a 50-day moving average of $48.74 and a 200 day moving average of $47.84. The company has a quick ratio of 0.45, a current ratio of 0.60 and a debt-to-equity ratio of 0.37.

Molson Coors Beverage Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp grew its position in shares of Molson Coors Beverage by 19.2% in the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after purchasing an additional 1,693,682 shares during the period. Royal London Asset Management Ltd. lifted its position in Molson Coors Beverage by 317.9% during the second quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock worth $98,297,000 after buying an additional 1,554,851 shares during the period. Dimensional Fund Advisors LP boosted its stake in Molson Coors Beverage by 17.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,572,843 shares of the company’s stock worth $353,502,000 after buying an additional 1,147,800 shares during the last quarter. Millennium Management LLC grew its holdings in Molson Coors Beverage by 279.2% in the 3rd quarter. Millennium Management LLC now owns 1,087,251 shares of the company’s stock valued at $49,198,000 after buying an additional 800,529 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Molson Coors Beverage by 142.6% during the 4th quarter. California Public Employees Retirement System now owns 1,322,463 shares of the company’s stock valued at $61,733,000 after acquiring an additional 777,244 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group boosted their target price on Molson Coors Beverage from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Roth Mkm reissued a “buy” rating and issued a $65.00 price objective (down from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Jefferies Financial Group cut their price objective on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating for the company in a research report on Tuesday, November 4th. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Finally, Barclays reissued an “underweight” rating and set a $49.00 price target on shares of Molson Coors Beverage in a report on Friday, January 16th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $53.43.

Molson Coors Beverage Company 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.