Wincap Financial LLC Takes Position in Molson Coors Beverage Company (NYSE:TAP)

Key Points

• Wincap Financial LLC has purchased 12,923 shares of Molson Coors Beverage Company (NYSE:TAP), valued at approximately $787,000, according to its latest SEC filing.
• Molson Coors reported a quarterly earnings per share of $0.50, missing analysts' expectations, with revenue declining 11.3% year-over-year, totaling $2.30 billion.
• The company announced a quarterly dividend of $0.47 per share, with a 3.67% dividend yield, payable on September 19th to shareholders of record.

Wincap Financial LLC purchased a new stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,923 shares of the company's stock, valued at approximately $787,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. grew its position in Molson Coors Beverage by 70.1% in the 4th quarter. American Century Companies Inc. now owns 150,828 shares of the company's stock worth $8,645,000 after purchasing an additional 62,159 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Molson Coors Beverage by 13.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 284,883 shares of the company's stock worth $15,745,000 after purchasing an additional 34,268 shares during the period. Elo Mutual Pension Insurance Co grew its position in shares of Molson Coors Beverage by 28.1% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 21,027 shares of the company's stock valued at $1,205,000 after acquiring an additional 4,612 shares during the period. UniSuper Management Pty Ltd grew its position in shares of Molson Coors Beverage by 1.7% during the 4th quarter. UniSuper Management Pty Ltd now owns 31,202 shares of the company's stock valued at $1,788,000 after acquiring an additional 526 shares during the period. Finally, NEOS Investment Management LLC grew its position in shares of Molson Coors Beverage by 25.6% during the 4th quarter. NEOS Investment Management LLC now owns 6,075 shares of the company's stock valued at $348,000 after acquiring an additional 1,238 shares during the period. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Shares of TAP traded up $0.72 during midday trading on Tuesday, hitting $50.64. 2,118,103 shares of the company traded hands, compared to its average volume of 2,054,126. The firm has a 50 day moving average of $50.80 and a 200-day moving average of $55.47. Molson Coors Beverage Company has a 52 week low of $46.94 and a 52 week high of $64.66. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.00 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.59 and a current ratio of 0.89.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $0.95 EPS. The firm's revenue for the quarter was down 11.3% on a year-over-year basis. On average, analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TAP. Bank of America downgraded shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their price objective for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Needham & Company LLC cut their price objective on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Citigroup cut their price objective on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. UBS Group cut their price objective on shares of Molson Coors Beverage from $59.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Finally, Barclays cut their price objective on shares of Molson Coors Beverage from $57.00 to $53.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average price target of $59.26.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the transaction, the director owned 27,595 shares of the company's stock, valued at $1,553,322.55. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.71% of the stock is owned by company insiders.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.