Geoffrey Molson Sells 1,245 Shares of Molson Coors Beverage (NYSE:TAP) Stock

Molson Coors Beverage Company (NYSE:TAP) Director Geoffrey Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction 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 sale, the director directly owned 9,871 shares of the company’s stock, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $42.52 on Friday. Molson Coors Beverage Company has a 52-week low of $40.64 and a 52-week high of $54.82. 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 has a market capitalization of $7.97 billion, a P/E ratio of -4.00 and a beta of 0.44. The company has a fifty day moving average of $42.85 and a 200-day moving average of $46.06.

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

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 4.5%. Molson Coors Beverage’s payout ratio is currently -18.05%.

Hedge Funds Weigh In On Molson Coors Beverage

Hedge funds have recently modified their holdings of the company. GoalVest Advisory LLC purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. increased its position in shares of Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after acquiring an additional 244 shares during the period. Root Financial Partners LLC purchased a new position in shares of Molson Coors Beverage in the third quarter valued at about $25,000. Basepoint Wealth LLC purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at about $26,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after acquiring an additional 221 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Friday, March 27th. Evercore lowered their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Roth Mkm set a $58.00 price target on shares of Molson Coors Beverage in a research note on Thursday, February 19th. Finally, Jefferies Financial Group lowered their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Monday, April 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.59.

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.