Twin Capital Management Inc. Grows Position in Molson Coors Beverage Company $TAP

Twin Capital Management Inc. boosted its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 59.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 35,228 shares of the company’s stock after acquiring an additional 13,189 shares during the quarter. Twin Capital Management Inc.’s holdings in Molson Coors Beverage were worth $1,517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. GoalVest Advisory LLC purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. grew its stake in shares of Molson Coors Beverage by 84.1% during the fourth 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 last quarter. Basepoint Wealth LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its holdings in shares of Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after buying an additional 221 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Molson Coors Beverage by 551.1% during the 4th 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. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 1.9%

NYSE TAP opened at $39.60 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 fifty day simple moving average of $40.35 and a two-hundred day simple moving average of $44.34. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.43 billion, a P/E ratio of -3.72 and a beta of 0.42.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts forecast that Molson Coors Beverage Company will post 4.8 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.8%. Molson Coors Beverage’s payout ratio is currently -18.05%.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the business’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 sale, the director owned 9,871 shares in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TAP shares. UBS Group dropped their price objective on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Jefferies Financial Group lowered their target price on Molson Coors Beverage from $43.00 to $41.00 in a report on Friday, June 12th. JPMorgan Chase & Co. lowered their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, April 27th. Barclays cut their price target on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, May 1st. Finally, Morgan Stanley cut their price objective on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.35.

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.