Arrowstreet Capital Limited Partnership Increases Stake in Molson Coors Beverage Company $TAP

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 152.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,531,145 shares of the company’s stock after acquiring an additional 1,528,004 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Molson Coors Beverage were worth $118,154,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TAP. Dodge & Cox raised its holdings in shares of Molson Coors Beverage by 29.4% in the third quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock worth $843,063,000 after acquiring an additional 4,235,029 shares during the last quarter. State Street Corp lifted its holdings in Molson Coors Beverage by 19.2% during the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock worth $475,886,000 after buying an additional 1,693,682 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Molson Coors Beverage by 17.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,572,843 shares of the company’s stock worth $353,502,000 after purchasing an additional 1,147,800 shares during the period. Goldman Sachs Group Inc. increased its position in Molson Coors Beverage by 265.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock valued at $136,400,000 after acquiring an additional 2,122,085 shares during the period. Finally, Norges Bank bought a new position in Molson Coors Beverage during the 4th quarter valued at $125,755,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the sale, the director directly owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $40.86 on Tuesday. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of -3.84 and a beta of 0.41. 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 Company has a twelve month low of $38.04 and a twelve month high of $54.82. The company’s fifty day moving average is $42.13 and its 200 day moving average is $45.45.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. Molson Coors Beverage’s revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts forecast that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given 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 was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is presently -18.05%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Roth Mkm set a $58.00 target price on Molson Coors Beverage in a research report on Thursday, February 19th. Zacks Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. BNP Paribas Exane dropped their target price on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a research report on Wednesday, June 3rd. Evercore reduced their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. cut their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $44.88.

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.