Y Intercept Hong Kong Ltd Acquires 14,939 Shares of Molson Coors Beverage Company $TAP

Y Intercept Hong Kong Ltd increased its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 42.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,272 shares of the company’s stock after buying an additional 14,939 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Molson Coors Beverage were worth $2,165,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Fairfax Financial Holdings Ltd. Can raised its position in shares of Molson Coors Beverage by 5.9% in the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 1,290,071 shares of the company’s stock valued at $58,363,000 after acquiring an additional 71,571 shares during the period. Aquatic Capital Management LLC acquired a new position in Molson Coors Beverage during the third quarter valued at approximately $8,365,000. Oak Thistle LLC bought a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $3,194,000. AIA Group Ltd increased its stake in Molson Coors Beverage by 132.5% in the third quarter. AIA Group Ltd now owns 88,063 shares of the company’s stock valued at $3,985,000 after purchasing an additional 50,192 shares in the last quarter. Finally, Delta Global Management LP acquired a new stake in Molson Coors Beverage in the fourth quarter worth $2,360,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the company’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 of the company’s stock, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.27% of the stock is owned by corporate insiders.

Molson Coors Beverage Stock Down 1.1%

Shares of TAP stock opened at $38.83 on Thursday. Molson Coors Beverage Company has a 12-month low of $38.04 and a 12-month 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. The firm has a fifty day moving average of $40.68 and a 200-day moving average of $44.60. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of -3.65 and a beta of 0.42.

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 business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations 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 firm’s revenue 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. As a group, equities research analysts predict that Molson Coors Beverage Company will post 4.8 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Friday, May 29th. Molson Coors Beverage’s payout ratio is -18.05%.

Analysts Set New Price Targets

TAP has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. TD Cowen raised Molson Coors Beverage to a “hold” rating in a research note on Friday, June 26th. The Goldman Sachs Group lifted their target price on Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Wednesday, June 24th. Finally, Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average target price of $44.76.

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.