Swedbank AB Trims Stake in Molson Coors Beverage Company $TAP

Swedbank AB lowered its position in Molson Coors Beverage Company (NYSE:TAP) by 24.3% during the 4th quarter, HoldingsChannel reports. The fund owned 74,522 shares of the company’s stock after selling 23,864 shares during the period. Swedbank AB’s holdings in Molson Coors Beverage were worth $3,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TAP. Caxton Associates LLP purchased a new stake in shares of Molson Coors Beverage in the first quarter valued at $202,000. United Services Automobile Association purchased a new stake in shares of Molson Coors Beverage in the first quarter valued at $215,000. Woodline Partners LP raised 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 acquiring an additional 4,056 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Molson Coors Beverage by 32.9% in 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 last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Molson Coors Beverage by 4.7% in the second quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock worth $19,889,000 after purchasing an additional 18,566 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Andrew Thomas Molson purchased 2,000 shares of the stock in a transaction dated Monday, March 9th. The shares were acquired at an average cost of $46.67 per share, for a total transaction of $93,340.00. Following the acquisition, the director owned 24,654 shares of the company’s stock, valued at approximately $1,150,602.18. This represents a 8.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America cut shares of Molson Coors Beverage from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $50.00 to $42.00 in a report on Wednesday, February 25th. The Goldman Sachs Group upped their price target on shares of Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. BNP Paribas Exane cut shares of Molson Coors Beverage from a “hold” rating to a “strong sell” rating and set a $40.00 price target on the stock. in a report on Friday, January 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $42.00 price target on shares of Molson Coors Beverage in a report on Friday, May 1st. Finally, Jefferies Financial Group cut their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Monday, April 20th. Four 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.71.

Molson Coors Beverage Stock Down 1.7%

NYSE:TAP opened at $42.40 on Friday. Molson Coors Beverage Company has a fifty-two week low of $40.64 and a fifty-two week high of $57.57. The stock has a market capitalization of $7.97 billion, a P/E ratio of -3.98 and a beta of 0.44. 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 company’s 50-day simple moving average is $44.04 and its 200-day simple moving average is $46.33.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results 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 business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business earned $0.50 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Molson Coors Beverage Company will post 4.74 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) 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.