Molson Coors Beverage Company $TAP Shares Acquired by Ethic Inc.

Ethic Inc. raised its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 42.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,870 shares of the company’s stock after buying an additional 17,339 shares during the quarter. Ethic Inc.’s holdings in Molson Coors Beverage were worth $2,701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Dodge & Cox lifted its stake in Molson Coors Beverage by 29.4% during the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock valued at $843,063,000 after acquiring an additional 4,235,029 shares during the period. State Street Corp grew its position in Molson Coors Beverage by 19.2% during the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock worth $475,886,000 after purchasing an additional 1,693,682 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Molson Coors Beverage by 22.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,425,043 shares of the company’s stock valued at $290,741,000 after buying an additional 1,195,249 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Molson Coors Beverage by 317.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock valued at $98,297,000 after buying an additional 1,554,851 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in shares of Molson Coors Beverage by 21.2% during the 3rd quarter. Schroder Investment Management Group now owns 1,947,454 shares of the company’s stock valued at $88,122,000 after buying an additional 340,433 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 dated Monday, March 9th. The shares were purchased at an average cost of $46.67 per share, for a total transaction of $93,340.00. Following the transaction, the director directly owned 24,654 shares of the company’s stock, valued at approximately $1,150,602.18. The trade was a 8.83% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.27% of the stock is owned by company insiders.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $41.49 on Tuesday. Molson Coors Beverage Company has a 52 week low of $40.64 and a 52 week high of $57.57. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $7.78 billion, a PE ratio of -3.90 and a beta of 0.44. The stock’s 50-day moving average price is $43.80 and its 200-day moving average price is $46.27.

Molson Coors Beverage (NYSE:TAP) last posted its 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 firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the firm earned $0.50 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts expect that Molson Coors Beverage Company will post 4.74 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TAP shares. JPMorgan Chase & Co. reduced their price objective on Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research note on Friday, May 1st. UBS Group reduced their price objective on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Friday, March 27th. Finally, Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.71.

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.