BNP Paribas Financial Markets Has $16.45 Million Holdings in Molson Coors Beverage Company $TAP

Key Points

• BNP Paribas Financial Markets cut its Molson Coors stake by 36.2% in the fourth quarter, ending with 352,322 shares valued at about $16.45 million. Institutional investors still own a large majority of the company, at 78.46%.
• Molson Coors reported better-than-expected quarterly earnings, posting $0.62 EPS versus the $0.36 estimate and revenue of $2.35 billion, up 2.0% year over year. The company also announced a quarterly dividend of $0.48 per share, implying a 4.9% annual yield.
• Insider activity was mixed: Director Andrew Thomas Molson bought 2,000 shares, while Director Geoffrey E. Molson sold 1,245 shares. Analysts currently rate TAP a Hold on average, with a consensus price target of $45.00.

BNP Paribas Financial Markets lessened its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 36.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 352,322 shares of the company's stock after selling 200,042 shares during the quarter. BNP Paribas Financial Markets owned 0.18% of Molson Coors Beverage worth $16,446,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TAP. GoalVest Advisory LLC acquired a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. boosted its holdings in shares of Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock valued at $25,000 after buying an additional 244 shares during the period. Basepoint Wealth LLC acquired a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in shares of Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock valued at $27,000 after buying an additional 221 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Molson Coors Beverage by 551.1% in the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company's stock valued at $29,000 after buying an additional 518 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $39.10 on Friday. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82. The firm has a fifty day simple moving average of $42.41 and a 200 day simple moving average of $45.67. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of -3.68 and a beta of 0.41. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the firm posted $0.50 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts forecast that Molson Coors Beverage Company will post 4.74 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage's dividend payout ratio is -18.05%.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Andrew Thomas Molson purchased 2,000 shares of the company's stock in a transaction on Monday, March 9th. The shares were purchased at an average cost of $46.67 per share, with a total value of $93,340.00. Following the completion of the transaction, the director owned 24,654 shares of the company's stock, valued at $1,150,602.18. The trade was a 8.83% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geoffrey E. Molson sold 1,245 shares of the company's stock in a transaction on 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 directly owned 9,871 shares in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.27% of the company's stock.

Wall Street Analyst Weigh In

TAP has been the subject of several research analyst reports. Roth Mkm set a $58.00 price target on shares of Molson Coors Beverage in a report on Thursday, February 19th. Morgan Stanley reduced their price target on shares of Molson Coors Beverage from $52.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday, May 4th. Zacks Research upgraded shares of Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Wall Street Zen cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Finally, The Goldman Sachs Group upped their price target on shares of Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $45.00.

Molson Coors Beverage Company 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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