Molson Coors Beverage Company $TAP Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its holdings in Molson Coors Beverage Company (NYSE:TAP) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,363,157 shares of the company’s stock after acquiring an additional 790,314 shares during the period. Dimensional Fund Advisors LP owned about 4.45% of Molson Coors Beverage worth $360,117,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TAP. Oak Thistle LLC purchased a new stake in Molson Coors Beverage during the fourth quarter worth $3,194,000. Delta Global Management LP acquired a new stake in Molson Coors Beverage in the 4th quarter worth about $2,360,000. Jefferies Financial Group Inc. boosted its stake in shares of Molson Coors Beverage by 187.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 43,318 shares of the company’s stock worth $2,022,000 after acquiring an additional 28,272 shares during the last quarter. Fairfax Financial Holdings Ltd. Can boosted its stake in Molson Coors Beverage by 3.8% during the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 1,338,500 shares of the company’s stock worth $62,495,000 after purchasing an additional 48,429 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Molson Coors Beverage by 13,331.1% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 900,692 shares of the company’s stock worth $42,044,000 after acquiring an additional 893,986 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 2.27% of the company’s stock.

Molson Coors Beverage Trading Down 1.8%

Shares of Molson Coors Beverage stock opened at $40.85 on Wednesday. The company has a market capitalization of $7.66 billion, a P/E ratio of -3.84 and a beta of 0.42. Molson Coors Beverage Company has a 1 year low of $38.04 and a 1 year high of $54.82. The company’s fifty day moving average is $40.28 and its two-hundred day moving average is $44.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating the consensus estimate 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 revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS. Analysts forecast that Molson Coors Beverage Company will post 4.8 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, August 28th. Molson Coors Beverage’s payout ratio is -18.05%.

Analyst Ratings Changes

TAP has been the topic of a number of recent research reports. Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Evercore lowered their price objective on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Wednesday, June 24th. Barclays dropped their price target on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, May 1st. Finally, Zacks Research upgraded shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $44.06.

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.