Molson Coors Beverage Company $TAP Shares Purchased by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lifted its holdings in Molson Coors Beverage Company (NYSE:TAP) by 265.3% in the fourth quarter, Holdings Channel reports. The firm owned 2,922,022 shares of the company’s stock after buying an additional 2,122,085 shares during the period. Goldman Sachs Group Inc.’s holdings in Molson Coors Beverage were worth $136,400,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TAP. Caxton Associates LLP purchased a new position in shares of Molson Coors Beverage in the first quarter worth about $202,000. United Services Automobile Association acquired a new position in shares of Molson Coors Beverage in the 1st quarter valued at about $215,000. Woodline Partners LP increased its stake in shares of 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 purchasing an additional 4,056 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 198 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of 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 purchasing an additional 18,566 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Up 1.4%

NYSE:TAP opened at $39.62 on Tuesday. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of -3.72 and a beta of 0.41. The stock’s fifty day moving average is $42.36 and its two-hundred day moving average is $45.62. Molson Coors Beverage Company has a 52 week low of $38.04 and a 52 week high of $54.82. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.Molson Coors Beverage’s revenue was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. Research analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company 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 4.8%. Molson Coors Beverage’s payout ratio is -18.05%.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction dated 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 owned 9,871 shares in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Jefferies Financial Group cut their price objective on 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. Barclays dropped their price target on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $42.00 price target on shares of Molson Coors Beverage in a research report on Friday, May 1st. UBS Group dropped their price target on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, Evercore dropped their price target on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Four 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.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $45.00.

About Molson Coors Beverage

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.