Fairfax Financial Holdings Ltd. Can Grows Stake in Molson Coors Beverage Company $TAP

Key Points

• Fairfax Financial Holdings increased its stake in Molson Coors Beverage by 3.8% in the fourth quarter, adding 48,429 shares and bringing its total holding to 1,338,500 shares worth about $62.5 million.
• Molson Coors shares were trading around $40.58, near the lower end of their 52-week range of $38.04 to $54.82, with a market cap of $7.61 billion.
• The company recently beat earnings expectations, reporting $0.62 EPS versus the $0.36 consensus, while paying a quarterly dividend of $0.48 per share for a 4.7% yield. Analysts remain cautious overall, with a consensus rating of Hold and a target price of $44.88.

Fairfax Financial Holdings Ltd. Can boosted its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,338,500 shares of the company's stock after buying an additional 48,429 shares during the quarter. Molson Coors Beverage makes up approximately 3.0% of Fairfax Financial Holdings Ltd. Can's investment portfolio, making the stock its 10th biggest holding. Fairfax Financial Holdings Ltd. Can owned about 0.68% of Molson Coors Beverage worth $62,495,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TAP. Caxton Associates LLP purchased a new position in shares of Molson Coors Beverage in the 1st quarter valued at $202,000. United Services Automobile Association purchased a new stake in shares of Molson Coors Beverage during the 1st quarter worth $215,000. Woodline Partners LP lifted its stake in shares of Molson Coors Beverage by 38.7% during the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company's stock worth $885,000 after purchasing an additional 4,056 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after purchasing an additional 198 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Molson Coors Beverage by 4.7% in the second quarter. First Trust Advisors LP now owns 413,578 shares of the company's stock valued at $19,889,000 after purchasing an additional 18,566 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

TAP opened at $40.58 on Wednesday. The company has a market cap of $7.61 billion, a P/E ratio of -3.81 and a beta of 0.41. 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 moving average price is $42.06 and its 200-day moving average price is $45.40. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82.

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

Molson Coors Beverage Dividend Announcement

The business also recently disclosed 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 was Friday, May 29th. Molson Coors Beverage's payout ratio is presently -18.05%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group boosted their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Weiss Ratings restated a "sell (d)" rating on shares of Molson Coors Beverage in a report on Friday, March 27th. TD Cowen cut their price objective on shares of Molson Coors Beverage from $47.00 to $43.00 and set a "hold" rating on the stock in a research report on Friday, February 20th. BNP Paribas Exane reduced their price objective on shares of Molson Coors Beverage from $36.00 to $35.00 and set an "underperform" rating for the company in a research note on Wednesday, June 3rd. Finally, Sanford C. Bernstein decreased their target price on shares of Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating for the company in a research report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $44.88.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the business's stock in a transaction on Thursday, May 21st. The shares were 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 of the company's stock, valued at $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.27% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage Company (NYSE:TAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.