Molson Coors Beverage Company $TAP Shares Bought by Brandes Investment Partners LP

Brandes Investment Partners LP raised its position in Molson Coors Beverage Company (NYSE:TAP) by 14.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 107,479 shares of the company’s stock after acquiring an additional 13,644 shares during the quarter. Brandes Investment Partners LP’s holdings in Molson Coors Beverage were worth $5,017,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TAP. Caxton Associates LLP acquired a new position in Molson Coors Beverage in the 1st quarter valued at about $202,000. United Services Automobile Association acquired a new position in Molson Coors Beverage in the 1st quarter valued at about $215,000. Woodline Partners LP grew its position in Molson Coors Beverage by 38.7% in the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after acquiring an additional 4,056 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Molson Coors Beverage by 4.7% in the 2nd quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock valued at $19,889,000 after acquiring an additional 18,566 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $40.85 on Thursday. The stock has a 50 day moving average price of $42.26 and a 200 day moving average price of $45.55. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of -3.84 and a beta of 0.41. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82.

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

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is -18.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TAP. Needham & Company LLC lowered their price objective on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Sanford C. Bernstein lowered their price objective on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, May 26th. Morgan Stanley lowered their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Wall Street Zen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research report on Friday, May 1st. Four 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. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $45.00.

Insider Transactions at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the transaction, the director directly owned 9,871 shares of the company’s stock, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.27% of the stock is owned by company insiders.

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.