Pine Valley Investments Ltd Liability Co Invests $11.58 Million in Molson Coors Beverage Company $TAP

Pine Valley Investments Ltd Liability Co bought a new position in Molson Coors Beverage Company (NYSE:TAP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 268,989 shares of the company’s stock, valued at approximately $11,583,000. Pine Valley Investments Ltd Liability Co owned approximately 0.14% of Molson Coors Beverage at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. NewEdge Advisors LLC boosted its stake in Molson Coors Beverage by 2,241.1% in the first quarter. NewEdge Advisors LLC now owns 24,137 shares of the company’s stock worth $1,039,000 after purchasing an additional 23,106 shares in the last quarter. Financial Solutions Advisory Group Inc. bought a new position in shares of Molson Coors Beverage in the first quarter valued at about $1,086,000. Bank of America Corp DE raised its holdings in shares of Molson Coors Beverage by 36.5% in the first quarter. Bank of America Corp DE now owns 1,187,921 shares of the company’s stock valued at $51,152,000 after buying an additional 317,387 shares during the last quarter. Kentucky Retirement Systems lifted its position in Molson Coors Beverage by 24.0% during the 1st quarter. Kentucky Retirement Systems now owns 13,054 shares of the company’s stock worth $562,000 after buying an additional 2,523 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Molson Coors Beverage by 3.2% during the 1st quarter. Janus Henderson Group PLC now owns 123,095 shares of the company’s stock worth $5,301,000 after buying an additional 3,848 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Up 0.2%

NYSE:TAP opened at $41.63 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. Molson Coors Beverage Company has a 1-year low of $38.04 and a 1-year high of $54.82. The firm has a market capitalization of $7.81 billion, a price-to-earnings ratio of -3.91 and a beta of 0.42. The business’s 50-day moving average price is $40.23 and its two-hundred day moving average price is $43.87.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating 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 company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the business posted $0.50 EPS. Molson Coors Beverage’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that Molson Coors Beverage Company will post 4.78 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 28th will be issued a $0.48 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.92 annualized dividend and a yield of 4.6%. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TAP. Deutsche Bank Aktiengesellschaft set a $41.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, July 22nd. BNP Paribas Exane reduced their target price on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 3rd. Wells Fargo & Company decreased their price target on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. The Goldman Sachs Group raised their price target on shares of Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Finally, Morgan Stanley dropped their price objective on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.00.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction on Thursday, May 21st. The shares were 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 $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.27% of the stock is currently owned by corporate insiders.

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.