Gamco Investors INC. ET AL Has $4.33 Million Holdings in Molson Coors Beverage Company $TAP

Gamco Investors INC. ET AL increased its position in Molson Coors Beverage Company (NYSE:TAP) by 21.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,608 shares of the company’s stock after acquiring an additional 17,650 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Molson Coors Beverage were worth $4,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its holdings in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares during the period. UMB Bank n.a. increased its stake in shares of Molson Coors Beverage by 16.5% in the fourth quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock worth $68,000 after purchasing an additional 208 shares during the period. New York Life Investment Management LLC increased its stake in shares of Molson Coors Beverage by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock worth $1,069,000 after purchasing an additional 210 shares during the period. Smartleaf Asset Management LLC lifted 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 worth $27,000 after purchasing an additional 221 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted 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 worth $25,000 after purchasing an additional 244 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 0.5%

Molson Coors Beverage stock opened at $41.17 on Tuesday. The business has a 50 day moving average price of $40.25 and a two-hundred day moving average price of $44.02. 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 Company has a 12 month low of $38.04 and a 12 month high of $54.82. The stock has a market cap of $7.72 billion, a price-to-earnings ratio of -3.87 and a beta of 0.42.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data 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 business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. As a group, equities analysts forecast that Molson Coors Beverage Company will post 4.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, August 28th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -18.05%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TAP shares. TD Cowen upgraded Molson Coors Beverage to a “hold” rating in a research note on Friday, June 26th. Wall Street Zen cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Morgan Stanley lowered their price objective on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Jefferies Financial Group dropped their target price on shares of Molson Coors Beverage from $43.00 to $41.00 in a research report on Friday, June 12th. Finally, Needham & Company LLC cut their target price on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 1st. 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.com, the stock currently has an average rating of “Hold” and an average price target 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 dated Thursday, May 21st. The shares were 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 in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.27% of the company’s stock.

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.