Stephens Inc. AR Acquires 53,503 Shares of Molson Coors Beverage Company $TAP

Stephens Inc. AR grew its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 245.2% during the 1st quarter, HoldingsChannel reports. The fund owned 75,322 shares of the company’s stock after buying an additional 53,503 shares during the period. Stephens Inc. AR’s holdings in Molson Coors Beverage were worth $3,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares in the last quarter. UMB Bank n.a. grew its holdings in Molson Coors Beverage by 16.5% during the 4th quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock valued at $68,000 after buying an additional 208 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Molson Coors Beverage by 0.9% during 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 buying an additional 210 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of 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 buying an additional 221 shares during the period. Finally, SBI Securities Co. Ltd. increased its position 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 period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on TAP shares. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. BNP Paribas Exane lowered their price objective on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 3rd. The Goldman Sachs Group lifted their price objective on Molson Coors Beverage from $48.00 to $50.00 in a research note on Friday, May 1st. Needham & Company LLC decreased their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Wells Fargo & Company lowered their price target on Molson Coors Beverage from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $44.76.

Insider Activity

In related news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction 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 transaction, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $38.83 on Thursday. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of -3.65 and a beta of 0.42. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. Molson Coors Beverage Company has a 1-year low of $38.04 and a 1-year high of $54.82. The stock’s 50-day moving average is $40.68 and its 200 day moving average is $44.60.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. Molson Coors Beverage’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

About Molson Coors Beverage

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.