Molson Coors Beverage Company $TAP Shares Acquired by Foster & Motley Inc.

Foster & Motley Inc. boosted its position in Molson Coors Beverage Company (NYSE:TAP) by 19.8% during the 1st quarter, HoldingsChannel reports. The firm owned 81,912 shares of the company’s stock after buying an additional 13,514 shares during the quarter. Foster & Motley Inc.’s holdings in Molson Coors Beverage were worth $3,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. GoalVest Advisory LLC acquired a new position in shares of Molson Coors Beverage during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. raised its stake in Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after purchasing an additional 244 shares during the period. Basepoint Wealth LLC acquired a new stake in Molson Coors Beverage during the 4th quarter worth about $26,000. Smartleaf Asset Management LLC grew its position in 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 purchasing an additional 221 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Molson Coors Beverage by 551.1% in the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after acquiring an additional 518 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TAP. The Goldman Sachs Group raised their price target on shares of Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. JPMorgan Chase & Co. cut their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. UBS Group cut their target price on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. 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. Finally, Evercore reduced their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $44.88.

Molson Coors Beverage Stock Up 2.2%

NYSE:TAP opened at $41.44 on Friday. The company has a market cap of $7.77 billion, a price-to-earnings ratio of -3.89 and a beta of 0.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The stock’s fifty day moving average price is $41.34 and its two-hundred day moving average price is $45.06. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82.

Molson Coors Beverage (NYSE:TAP) last released 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. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts anticipate that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Announces Dividend

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

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.27% of the stock is currently owned by corporate insiders.

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.