Delta Global Management LP Makes New Investment in Molson Coors Beverage Company $TAP

Delta Global Management LP bought a new position in shares of Molson Coors Beverage Company (NYSE:TAP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 50,564 shares of the company’s stock, valued at approximately $2,360,000.

Other institutional investors have also recently made changes to their positions in the company. Caxton Associates LLP purchased a new position in Molson Coors Beverage during the 1st quarter valued at about $202,000. United Services Automobile Association purchased a new position in Molson Coors Beverage during the 1st quarter valued at about $215,000. Woodline Partners LP grew its holdings in Molson Coors Beverage by 38.7% during the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after buying an additional 4,056 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Molson Coors Beverage by 4.7% during the 2nd quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock valued at $19,889,000 after acquiring an additional 18,566 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $40.86 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. The business’s 50 day simple moving average is $42.13 and its two-hundred day simple moving average is $45.45. The stock has a market capitalization of $7.66 billion, a P/E ratio of -3.84 and a beta of 0.41. Molson Coors Beverage Company has a one year low of $38.04 and a one year high of $54.82.

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

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.7%. Molson Coors Beverage’s payout ratio is -18.05%.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.27% of the company’s stock.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of research analyst reports. Needham & Company LLC dropped their price target on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 1st. BNP Paribas Exane dropped their price target on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Friday, March 27th. Jefferies Financial Group dropped their price target on Molson Coors Beverage from $43.00 to $41.00 in a research report on Friday. Finally, Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus price target of $44.88.

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.