Molson Coors Beverage Company $TAP Stock Position Increased by Corient Private Wealth LLC

Corient Private Wealth LLC increased its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,700 shares of the company’s stock after acquiring an additional 23,953 shares during the period. Corient Private Wealth LLC owned approximately 0.06% of Molson Coors Beverage worth $5,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GoalVest Advisory LLC purchased a new stake in Molson Coors Beverage during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. increased its holdings in Molson Coors Beverage by 84.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after buying an additional 244 shares during the period. Basepoint Wealth LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after acquiring an additional 221 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Molson Coors Beverage by 551.1% during the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock valued at $29,000 after purchasing an additional 518 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the sale, the director directly owned 9,871 shares in the company, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TAP. The Goldman Sachs Group upped their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Jefferies Financial Group cut their price target on shares of Molson Coors Beverage from $43.00 to $41.00 in a research report on Friday, June 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.88.

Molson Coors Beverage Price Performance

TAP stock opened at $41.44 on Friday. The company has a 50 day simple moving average of $41.34 and a 200 day simple moving average of $45.06. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of -3.89 and a beta of 0.41. Molson Coors Beverage Company has a 1 year low of $38.04 and a 1 year high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Friday, May 1st. The company reported $0.62 earnings per share 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 analyst estimates 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 company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. Research analysts anticipate that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.6%. Molson Coors Beverage’s dividend payout ratio is presently -18.05%.

Molson Coors Beverage 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.