2,792,454 Shares in Molson Coors Beverage Company $TAP Bought by Norges Bank

Norges Bank bought a new stake in Molson Coors Beverage Company (NYSE:TAP) in the second quarter, HoldingsChannel reports. The fund bought 2,792,454 shares of the company’s stock, valued at approximately $134,289,000.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Molson Coors Beverage by 7.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 92,577 shares of the company’s stock worth $4,452,000 after purchasing an additional 6,642 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Molson Coors Beverage by 0.6% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 158,570 shares of the company’s stock worth $7,626,000 after purchasing an additional 930 shares in the last quarter. Korea Investment CORP raised its holdings in Molson Coors Beverage by 35.1% during the 2nd quarter. Korea Investment CORP now owns 174,086 shares of the company’s stock worth $8,372,000 after buying an additional 45,200 shares during the period. Northwest & Ethical Investments L.P. lifted its stake in Molson Coors Beverage by 91.8% in the second quarter. Northwest & Ethical Investments L.P. now owns 22,922 shares of the company’s stock valued at $1,102,000 after buying an additional 10,968 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Molson Coors Beverage by 1.2% in the second quarter. Russell Investments Group Ltd. now owns 308,214 shares of the company’s stock valued at $14,822,000 after buying an additional 3,645 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director David S. Coors acquired 2,245 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was bought at an average price of $44.47 per share, with a total value of $99,835.15. Following the transaction, the director directly owned 30,586 shares in the company, valued at approximately $1,360,159.42. The trade was a 7.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew Thomas Molson bought 7,500 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the acquisition, the director owned 22,654 shares in the company, valued at $1,059,980.66. This trade represents a 49.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.71% of the stock is currently owned by insiders.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $46.54 on Wednesday. Molson Coors Beverage Company has a 52-week low of $42.94 and a 52-week high of $64.66. The company has a market cap of $9.20 billion, a P/E ratio of 9.18, a P/E/G ratio of 1.60 and a beta of 0.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The stock’s 50-day simple moving average is $45.81 and its 200 day simple moving average is $48.74.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.05). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, sell-side analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.88 annualized dividend and a dividend yield of 4.0%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -17.60%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TAP shares. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. Jefferies Financial Group lowered their target price on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating for the company in a report on Tuesday, November 4th. Sanford C. Bernstein dropped their price target on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. assumed coverage on Molson Coors Beverage in a research report on Wednesday, November 5th. They set a “neutral” rating and a $49.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average target price of $53.59.

Molson Coors Beverage Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.