BNP Paribas Financial Markets Sells 200,042 Shares of Molson Coors Beverage Company $TAP

BNP Paribas Financial Markets cut its stake in Molson Coors Beverage Company (NYSE:TAP) by 36.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 352,322 shares of the company’s stock after selling 200,042 shares during the period. BNP Paribas Financial Markets’ holdings in Molson Coors Beverage were worth $16,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TAP. Dodge & Cox raised its position 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 valued at $843,063,000 after purchasing an additional 4,235,029 shares during the period. Norges Bank bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at about $125,755,000. State Street Corp raised its position in shares of Molson Coors Beverage by 19.2% in the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after purchasing an additional 1,693,682 shares during the period. Royal London Asset Management Ltd. raised its position in shares of Molson Coors Beverage by 317.9% in the second quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock valued at $98,297,000 after purchasing an additional 1,554,851 shares during the period. Finally, M&T Bank Corp raised its position in shares of Molson Coors Beverage by 16,111.2% in the fourth quarter. M&T Bank Corp now owns 1,499,699 shares of the company’s stock valued at $70,006,000 after purchasing an additional 1,490,448 shares during the period. 78.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TAP shares. Barclays dropped their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, May 1st. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Roth Mkm set a $58.00 price target on shares of Molson Coors Beverage in a research report on Thursday, February 19th. UBS Group lowered their price target on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, Piper Sandler lowered their price target on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, February 19th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.00.

Molson Coors Beverage Trading Up 1.8%

Shares of Molson Coors Beverage stock opened at $39.10 on Friday. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of -3.68 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 12-month low of $38.04 and a 12-month high of $54.82. The firm’s 50-day moving average price is $42.41 and its two-hundred day moving average price is $45.67.

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

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is presently -18.05%.

Insider Transactions at Molson Coors Beverage

In other news, Director Andrew Thomas Molson acquired 2,000 shares of Molson Coors Beverage stock in a transaction on Monday, March 9th. The shares were purchased at an average cost of $46.67 per share, for a total transaction of $93,340.00. Following the completion of the purchase, the director directly owned 24,654 shares of the company’s stock, valued at approximately $1,150,602.18. This represents a 8.83% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Geoffrey E. Molson sold 1,245 shares of the 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 sale, the director owned 9,871 shares in the company, valued at $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.27% of the company’s stock.

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.