Molson Coors Beverage Company $TAP Shares Purchased by Prosperitas Financial LLC

Prosperitas Financial LLC boosted its holdings in Molson Coors Beverage Company (NYSE:TAP) by 23.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,653 shares of the company’s stock after acquiring an additional 14,613 shares during the period. Prosperitas Financial LLC’s holdings in Molson Coors Beverage were worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. NewEdge Wealth LLC acquired a new stake in Molson Coors Beverage in the 4th quarter valued at about $330,000. Crossmark Global Holdings Inc. grew its stake in Molson Coors Beverage by 62.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 9,455 shares of the company’s stock valued at $441,000 after acquiring an additional 3,647 shares during the last quarter. Ethic Inc. grew its stake in Molson Coors Beverage by 42.8% in the 4th quarter. Ethic Inc. now owns 57,870 shares of the company’s stock valued at $2,701,000 after acquiring an additional 17,339 shares during the last quarter. Maxi Investments CY Ltd acquired a new stake in Molson Coors Beverage in the 4th quarter valued at about $2,553,000. Finally, International Assets Investment Management LLC acquired a new stake in Molson Coors Beverage in the 4th quarter valued at about $69,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Down 2.2%

Shares of TAP stock opened at $41.49 on Tuesday. The firm has a market cap of $7.78 billion, a P/E ratio of -3.90 and a beta of 0.44. Molson Coors Beverage Company has a 1-year low of $40.64 and a 1-year high of $57.57. 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 firm’s 50-day simple moving average is $43.80 and its 200-day simple moving average is $46.27.

Molson Coors Beverage (NYSE:TAP) last posted 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. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. As a group, equities analysts forecast that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is -18.05%.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Andrew Thomas Molson bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average price of $46.67 per share, with a total value of $93,340.00. Following the transaction, the director owned 24,654 shares in the company, valued at $1,150,602.18. This trade represents a 8.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TAP. Morgan Stanley lowered their price objective on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Barclays reduced their target price on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $42.00 target price on shares of Molson Coors Beverage in a report on Friday, May 1st. Needham & Company LLC reduced their target price on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, TD Cowen reduced their target price on shares of Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.71.

Molson Coors Beverage Company 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.