Molson Coors Beverage Company $TAP Shares Bought by Foster & Motley Inc.

Foster & Motley Inc. grew its position in Molson Coors Beverage Company (NYSE:TAP) by 19.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,912 shares of the company’s stock after buying an additional 13,514 shares during the quarter. Foster & Motley Inc.’s holdings in Molson Coors Beverage were worth $3,527,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TAP. OLD National Bancorp IN lifted its holdings in shares of Molson Coors Beverage by 39.9% in the first quarter. OLD National Bancorp IN now owns 239,430 shares of the company’s stock valued at $10,310,000 after purchasing an additional 68,235 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Molson Coors Beverage during the 1st quarter worth approximately $370,000. Kestra Private Wealth Services LLC raised its position in shares of Molson Coors Beverage by 9.2% during the 1st quarter. Kestra Private Wealth Services LLC now owns 42,217 shares of the company’s stock worth $1,818,000 after purchasing an additional 3,573 shares during the last quarter. Cardinal Point Capital Management ULC purchased a new stake in Molson Coors Beverage in the 1st quarter valued at approximately $237,000. Finally, Baker Ellis Asset Management LLC lifted its stake in Molson Coors Beverage by 1.2% in the 1st quarter. Baker Ellis Asset Management LLC now owns 152,042 shares of the company’s stock valued at $6,547,000 after buying an additional 1,756 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

TAP has been the subject of several recent research reports. Needham & Company LLC dropped their price target 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. Wells Fargo & Company decreased their price objective on Molson Coors Beverage from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research note on Friday, May 1st. Morgan Stanley cut their target price on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Finally, BNP Paribas Exane reduced their target price on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a report on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.88.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $41.44 on Friday. The company has a market cap of $7.77 billion, a P/E ratio of -3.89 and a beta of 0.41. The business has a fifty day simple moving average of $41.34 and a 200-day simple moving average of $45.06. Molson Coors Beverage Company has a 52 week low of $38.04 and a 52 week 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 posted its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. Equities research 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. Stockholders of record on Friday, May 29th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is presently -18.05%.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage 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 directly owned 9,871 shares of the company’s stock, valued at $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.27% of the stock is currently owned by company insiders.

About Molson Coors Beverage

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.