AXQ Capital LP Takes $854,000 Position in Molson Coors Beverage Company $TAP

AXQ Capital LP bought a new stake in shares of Molson Coors Beverage Company (NYSE:TAP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,304 shares of the company’s stock, valued at approximately $854,000.

A number of other large investors have also recently modified their holdings of TAP. Dodge & Cox boosted its stake in shares of Molson Coors Beverage by 29.4% during the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock valued at $843,063,000 after purchasing an additional 4,235,029 shares in the last quarter. Norges Bank bought a new stake in Molson Coors Beverage during the fourth quarter worth about $125,755,000. State Street Corp boosted its stake in Molson Coors Beverage by 19.2% during the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock worth $475,886,000 after acquiring an additional 1,693,682 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake 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 acquiring an additional 1,554,851 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Molson Coors Beverage by 16,111.2% during the fourth quarter. M&T Bank Corp now owns 1,499,699 shares of the company’s stock worth $70,006,000 after acquiring an additional 1,490,448 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.2%

Shares of Molson Coors Beverage stock opened at $38.94 on Wednesday. The company has a market cap of $7.30 billion, a price-to-earnings ratio of -3.66 and a beta of 0.41. The company’s 50 day moving average is $42.62 and its 200 day moving average is $45.88. Molson Coors Beverage Company has a twelve month low of $38.67 and a twelve month high of $54.82. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Research analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.9%. Molson Coors Beverage’s dividend payout ratio is -18.05%.

Insider Buying and Selling

In related news, Director Andrew Thomas Molson acquired 2,000 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of $46.67 per share, for a total transaction of $93,340.00. Following the completion of the transaction, the director directly owned 24,654 shares in the company, valued at approximately $1,150,602.18. This trade represents a 8.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the transaction, the director owned 9,871 shares in the company, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TAP. Evercore dropped their price objective on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. UBS Group dropped their price objective on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. TD Cowen decreased their target price on shares of Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating for the company in a report on Friday, February 20th. Wall Street Zen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a report on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.29.

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.