Entropy Technologies LP Buys New Position in Molson Coors Beverage Company $TAP

Entropy Technologies LP bought a new stake in Molson Coors Beverage Company (NYSE:TAP) in the 4th quarter, Holdings Channel reports. The institutional investor bought 117,939 shares of the company’s stock, valued at approximately $5,505,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Caxton Associates LLP purchased a new stake in Molson Coors Beverage in the 1st quarter valued at about $202,000. United Services Automobile Association purchased a new stake in Molson Coors Beverage in the 1st quarter valued at about $215,000. Woodline Partners LP grew its holdings in Molson Coors Beverage by 38.7% in 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 during the period. Geneos Wealth Management Inc. grew its holdings in Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after buying an additional 198 shares during the period. Finally, First Trust Advisors LP grew its holdings in Molson Coors Beverage by 4.7% in the 2nd quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock valued at $19,889,000 after buying an additional 18,566 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. BNP Paribas Exane lowered their price target on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a report on Wednesday, June 3rd. Jefferies Financial Group lowered their price target on Molson Coors Beverage from $43.00 to $41.00 in a report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Friday, March 27th. Morgan Stanley lowered their price target on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. Finally, Wells Fargo & Company lowered their price target on Molson Coors Beverage from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.88.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the company’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 value of $52,912.50. Following the completion of the transaction, the director owned 9,871 shares in the company, valued at $419,517.50. This represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.27% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Stock Up 1.5%

Shares of NYSE:TAP opened at $41.56 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. Molson Coors Beverage Company has a 1 year low of $38.04 and a 1 year high of $54.82. The stock has a market capitalization of $7.79 billion, a P/E ratio of -3.91 and a beta of 0.41. The stock has a 50-day simple moving average of $42.19 and a 200-day simple moving average of $45.49.

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 analysts’ consensus estimates 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 analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Molson Coors Beverage Company will post 4.8 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.6%. Molson Coors Beverage’s payout ratio is presently -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.