Arrowstreet Capital Limited Partnership Has $118.15 Million Stake in Molson Coors Beverage Company $TAP

Arrowstreet Capital Limited Partnership increased its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 152.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,531,145 shares of the company's stock after purchasing an additional 1,528,004 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.28% of Molson Coors Beverage worth $118,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairfax Financial Holdings Ltd. Can boosted its stake in Molson Coors Beverage by 5.9% in the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 1,290,071 shares of the company's stock worth $58,363,000 after purchasing an additional 71,571 shares during the period. Aquatic Capital Management LLC bought a new position in shares of Molson Coors Beverage during the third quarter valued at $8,365,000. Citigroup Inc. raised its stake in Molson Coors Beverage by 148.5% during the third quarter. Citigroup Inc. now owns 1,364,241 shares of the company's stock worth $61,732,000 after buying an additional 815,348 shares during the last quarter. Oak Thistle LLC acquired a new stake in Molson Coors Beverage in the fourth quarter worth $3,194,000. Finally, AIA Group Ltd grew its holdings in shares of Molson Coors Beverage by 132.5% during the third quarter. AIA Group Ltd now owns 88,063 shares of the company's stock valued at $3,985,000 after buying an additional 50,192 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the transaction, the director directly owned 9,871 shares of the company's stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.27% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on TAP. Bank of America lowered shares of Molson Coors Beverage from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $50.00 to $42.00 in a research report on Wednesday, February 25th. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Piper Sandler cut their price objective on shares of Molson Coors Beverage from $50.00 to $45.00 and set a "neutral" rating on the stock in a research report on Thursday, February 19th. Roth Mkm set a $58.00 price objective on shares of Molson Coors Beverage in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Molson Coors Beverage from $45.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $44.88.

Molson Coors Beverage Stock Down 1.7%

NYSE:TAP opened at $40.86 on Tuesday. The firm has a market cap of $7.66 billion, a PE ratio of -3.84 and a beta of 0.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. The company has a 50-day moving average of $42.13 and a 200 day moving average of $45.45. Molson Coors Beverage Company has a 1-year low of $38.04 and a 1-year high of $54.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its 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. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm's revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. As a group, research analysts anticipate that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th. Molson Coors Beverage's dividend payout ratio is presently -18.05%.

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.

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