Royal London Asset Management Ltd. Acquires 131,449 Shares of Molson Coors Beverage Company $TAP

Royal London Asset Management Ltd. grew its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,040,545 shares of the company’s stock after buying an additional 131,449 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Molson Coors Beverage were worth $95,253,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in shares of Molson Coors Beverage by 32.9% during 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 during the period. New York Life Investment Management LLC raised its position in shares of Molson Coors Beverage by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock valued at $1,069,000 after purchasing an additional 210 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after purchasing an additional 221 shares during the period. SBI Securities Co. Ltd. raised its position in shares of Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after purchasing an additional 244 shares during the period. Finally, Hilltop Holdings Inc. increased its holdings in Molson Coors Beverage by 4.2% in the 3rd quarter. Hilltop Holdings Inc. now owns 6,717 shares of the company’s stock valued at $304,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the topic of a number of research reports. Jefferies Financial Group reduced their price target on shares of Molson Coors Beverage from $43.00 to $41.00 in a report on Friday. Morgan Stanley reduced their price target on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. Wall Street Zen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Piper Sandler reduced their price target on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, February 19th. Finally, The Goldman Sachs Group lifted their price objective on shares of Molson Coors Beverage from $48.00 to $50.00 in a research note on Friday, May 1st. Four investment 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.88.

Molson Coors Beverage Price Performance

TAP stock opened at $41.56 on Friday. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $42.19 and a 200 day moving average price of $45.49. The stock has a market cap of $7.79 billion, a PE ratio of -3.91 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Friday, May 1st. The company reported $0.62 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 firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Molson Coors Beverage Company will post 4.8 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Friday, May 29th. Molson Coors Beverage’s payout ratio is -18.05%.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the sale, the director directly owned 9,871 shares of the company’s stock, valued at $419,517.50. The trade was a 11.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.27% of the stock is currently owned by company insiders.

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.