Entropy Technologies LP Purchases Shares of 14,962 Molson Coors Beverage Company (NYSE:TAP)

Key Points

• Entropy Technologies LP has acquired 14,962 shares of Molson Coors Beverage Company (NYSE:TAP), valued at approximately $911,000, during the first quarter.
• Molson Coors Beverage recently declared a quarterly dividend of $0.47 per share, translating to an annual yield of 3.7% and a payout ratio of 37.08%.
• The company's stock is currently trading at $50.35, down 0.7%, with a market cap of $10.18 billion and a P/E ratio of 9.93.

Entropy Technologies LP bought a new position in Molson Coors Beverage Company (NYSE:TAP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 14,962 shares of the company's stock, valued at approximately $911,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TAP. Bank of Nova Scotia increased its position in Molson Coors Beverage by 2.5% in the fourth quarter. Bank of Nova Scotia now owns 24,059 shares of the company's stock worth $1,379,000 after buying an additional 579 shares in the last quarter. Raymond James Financial Inc. bought a new position in Molson Coors Beverage during the fourth quarter valued at approximately $27,660,000. Bessemer Group Inc. boosted its stake in Molson Coors Beverage by 5.2% during the fourth quarter. Bessemer Group Inc. now owns 34,698 shares of the company's stock valued at $1,990,000 after buying an additional 1,713 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Molson Coors Beverage by 52.2% in the 4th quarter. Sterling Capital Management LLC now owns 10,153 shares of the company's stock valued at $582,000 after purchasing an additional 3,480 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in shares of Molson Coors Beverage by 17.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 48,316 shares of the company's stock valued at $2,769,000 after purchasing an additional 7,036 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Down 0.8%

Shares of NYSE:TAP traded down $0.44 during mid-day trading on Thursday, hitting $51.28. The company had a trading volume of 1,661,044 shares, compared to its average volume of 2,483,357. The firm has a fifty day moving average price of $49.81 and a 200 day moving average price of $55.06. The company has a market capitalization of $10.37 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.86 and a beta of 0.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business posted $1.92 EPS. The business's revenue was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.08%.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the sale, the director owned 27,595 shares of the company's stock, valued at $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TAP has been the topic of several research reports. UBS Group reduced their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Sanford C. Bernstein lowered their price target on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research report on Wednesday, July 9th. Piper Sandler decreased their price objective on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a report on Monday, June 23rd. Finally, Morgan Stanley reduced their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and an average price target of $58.12.

Molson Coors Beverage Profile

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.