Syon Capital LLC Makes New Investment in Molson Coors Beverage Company $TAP

Syon Capital LLC bought a new position in shares of Molson Coors Beverage Company (NYSE:TAP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,446 shares of the company’s stock, valued at approximately $861,000.

A number of other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its stake 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 purchasing an additional 198 shares during the period. New York Life Investment Management LLC raised its stake in shares of Molson Coors Beverage by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock valued at $1,069,000 after acquiring an additional 210 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Molson Coors Beverage by 64.2% in the 2nd 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. SBI Securities Co. Ltd. raised its stake in shares of 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 acquiring an additional 244 shares during the period. Finally, Hilltop Holdings Inc. raised its stake in shares of Molson Coors Beverage by 4.2% in the 3rd quarter. Hilltop Holdings Inc. now owns 6,717 shares of the company’s stock valued at $304,000 after acquiring an additional 270 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Molson Coors Beverage

In other 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 completion of the transaction, the director directly owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TAP. 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 note on Tuesday, April 21st. Piper Sandler reduced their price target on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, February 19th. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Sanford C. Bernstein reduced their price target on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company reduced their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.00.

Molson Coors Beverage Trading Up 2.3%

Shares of TAP stock opened at $40.51 on Wednesday. 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 has a market capitalization of $7.60 billion, a P/E ratio of -3.81 and a beta of 0.41. The company has a 50 day moving average price of $42.30 and a 200 day moving average price of $45.59. Molson Coors Beverage Company has a fifty-two week low of $38.04 and a fifty-two week high of $54.82.

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. The firm had revenue of $2.35 billion during 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 business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. Equities research analysts predict that Molson Coors Beverage Company will post 4.74 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.7%. Molson Coors Beverage’s payout ratio is currently -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.