Corient Private Wealth LLC Purchases 52,983 Shares of Molson Coors Beverage Company $TAP

Corient Private Wealth LLC boosted its position in Molson Coors Beverage Company (NYSE:TAP) by 76.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 122,671 shares of the company’s stock after purchasing an additional 52,983 shares during the period. Corient Private Wealth LLC’s holdings in Molson Coors Beverage were worth $5,899,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TAP. Vanguard Group Inc. boosted its holdings in shares of Molson Coors Beverage by 0.4% during the second quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock worth $1,019,934,000 after acquiring an additional 92,058 shares during the period. Dodge & Cox boosted its stake in shares of Molson Coors Beverage by 2.3% during the second quarter. Dodge & Cox now owns 14,396,195 shares of the company’s stock valued at $692,313,000 after purchasing an additional 327,885 shares in the last quarter. Geode Capital Management LLC increased its holdings in Molson Coors Beverage by 1.4% in the second quarter. Geode Capital Management LLC now owns 4,486,791 shares of the company’s stock valued at $214,860,000 after purchasing an additional 61,060 shares during the period. Invesco Ltd. raised its holdings in Molson Coors Beverage by 17.2% during the 2nd quarter. Invesco Ltd. now owns 4,277,685 shares of the company’s stock worth $205,714,000 after purchasing an additional 626,639 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $134,289,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $47.67 on Friday. The stock has a market capitalization of $9.42 billion, a P/E ratio of -4.46 and a beta of 0.45. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.60 and a quick ratio of 0.45. The business’s 50 day simple moving average is $46.12 and its two-hundred day simple moving average is $48.11. Molson Coors Beverage Company has a one year low of $42.94 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a negative net margin of 15.89% and a positive return on equity of 8.78%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.47 per share. The ex-dividend date was Friday, December 5th. This represents a $1.88 annualized dividend and a dividend yield of 3.9%. Molson Coors Beverage’s payout ratio is currently -17.60%.

Insider Buying and Selling

In other Molson Coors Beverage news, Director David S. Coors acquired 2,245 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were acquired 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 directly 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew Thomas Molson purchased 7,500 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. 2.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on TAP. Sanford C. Bernstein reduced their price target on shares of Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. 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 report on Monday, November 3rd. Roth Capital reaffirmed a “buy” rating and issued a $65.00 price target (down previously from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price target (down previously from $53.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 19th. Finally, Jefferies Financial Group decreased their price target on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Five 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 presently has an average rating of “Hold” and a consensus price target of $53.59.

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.