Entropy Technologies LP Makes New $5.51 Million Investment in Molson Coors Beverage Company $TAP

Key Points

• Entropy Technologies LP opened a new position in Molson Coors Beverage during the fourth quarter, buying 117,939 shares worth about $5.51 million.
• Institutional ownership remains heavy, with hedge funds and other investors controlling 78.46% of the stock; several firms, including Dodge & Cox, State Street, and Goldman Sachs, also increased their stakes.
• Molson Coors recently beat earnings expectations, reporting $0.62 EPS versus a $0.36 estimate, and it also paid a quarterly dividend of $0.48 per share, equal to a 4.6% annualized yield.

Entropy Technologies LP bought a new position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 117,939 shares of the company's stock, valued at approximately $5,505,000. Entropy Technologies LP owned approximately 0.06% of Molson Coors Beverage as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Dodge & Cox boosted its position in shares of Molson Coors Beverage by 29.4% during the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company's stock worth $843,063,000 after purchasing an additional 4,235,029 shares in the last quarter. State Street Corp boosted its position in shares of Molson Coors Beverage by 19.2% during the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company's stock worth $475,886,000 after purchasing an additional 1,693,682 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Molson Coors Beverage by 17.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,572,843 shares of the company's stock worth $353,502,000 after purchasing an additional 1,147,800 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Molson Coors Beverage by 265.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company's stock worth $136,400,000 after purchasing an additional 2,122,085 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Molson Coors Beverage during the 4th quarter worth $125,755,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Geoffrey E. Molson sold 1,245 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the transaction, the director owned 9,871 shares of the company's stock, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TAP shares. UBS Group decreased their target price 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 Tuesday, April 7th. Zacks Research upgraded shares of Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Sanford C. Bernstein decreased their price objective on shares of Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 26th. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, May 18th. Finally, Evercore decreased their price objective on shares of Molson Coors Beverage from $50.00 to $47.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Molson Coors Beverage currently has an average rating of "Hold" and a consensus target price of $44.88.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $41.56 on Friday. Molson Coors Beverage Company has a 52 week low of $38.04 and a 52 week high of $54.82. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The firm's 50-day simple moving average is $42.19 and its 200 day simple moving average is $45.49. The firm has a market capitalization of $7.79 billion, a PE ratio of -3.91 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.62 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 business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the firm earned $0.50 EPS. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 4.6%. Molson Coors Beverage's payout ratio is presently -18.05%.

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.

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