Y Intercept Hong Kong Ltd Has $2.17 Million Stake in Molson Coors Beverage Company $TAP

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

Other hedge funds have also recently bought and sold shares of the company. Caxton Associates LLP bought a new stake in shares of Molson Coors Beverage during the 1st quarter worth approximately $202,000. United Services Automobile Association bought a new position in shares of Molson Coors Beverage in the first quarter valued at $215,000. Woodline Partners LP grew its stake in shares of Molson Coors Beverage by 38.7% in the first quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after buying an additional 4,056 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after buying an additional 198 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Molson Coors Beverage by 4.7% during the second quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock worth $19,889,000 after buying an additional 18,566 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.27% of the company’s stock.

Molson Coors Beverage Trading Down 1.1%

Shares of Molson Coors Beverage stock opened at $38.83 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. The business has a fifty day simple moving average of $40.68 and a two-hundred day simple moving average of $44.60. Molson Coors Beverage Company has a 1 year low of $38.04 and a 1 year high of $54.82. 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 released 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 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 company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 earnings per share. Research analysts forecast that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. 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. BNP Paribas Exane lowered their price objective on shares of 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. UBS Group dropped their target price on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Wednesday, June 24th. Finally, Barclays cut their target price on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus price target 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.