Molson Coors Beverage Company $TAP Shares Sold by Entropy Technologies LP

Entropy Technologies LP decreased its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 51.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,618 shares of the company’s stock after selling 60,321 shares during the quarter. Entropy Technologies LP’s holdings in Molson Coors Beverage were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised 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 purchasing an additional 1,693,682 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Molson Coors Beverage by 10.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company’s stock valued at $360,117,000 after buying an additional 790,314 shares during the period. Invesco Ltd. increased its holdings in shares of Molson Coors Beverage by 1.2% during the 4th quarter. Invesco Ltd. now owns 4,485,000 shares of the company’s stock worth $209,360,000 after buying an additional 54,456 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Molson Coors Beverage by 16.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company’s stock worth $143,236,000 after buying an additional 469,607 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Molson Coors Beverage by 265.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock valued at $136,400,000 after buying an additional 2,122,085 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group decreased their price objective on Molson Coors Beverage from $43.00 to $41.00 in a report on Friday, June 12th. Wells Fargo & Company cut their target price on Molson Coors Beverage from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Morgan Stanley decreased their price target on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. BNP Paribas Exane decreased their price target on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 3rd. Finally, Citigroup lowered their price target on Molson Coors Beverage from $47.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.00.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s stock in a transaction dated 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 in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.27% of the stock is owned by company insiders.

Molson Coors Beverage Stock Up 0.1%

NYSE:TAP opened at $40.98 on Monday. 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 stock’s fifty day moving average is $40.26 and its two-hundred day moving average is $44.06. Molson Coors Beverage Company has a 52 week low of $38.04 and a 52 week high of $54.82. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of -3.85 and a beta of 0.42.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, topping 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Research analysts anticipate that Molson Coors Beverage Company will post 4.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

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

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.