Geode Capital Management LLC Has $208.63 Million Stock Holdings in Molson Coors Beverage Company $TAP

Key Points

• Geode Capital Management slightly reduced its Molson Coors stake by 0.7% in the fourth quarter, but still held 4.48 million shares valued at about $208.6 million.
• Molson Coors continues to attract significant institutional interest, with 78.46% of its stock owned by institutions and hedge funds. Several major holders, including Dodge & Cox and State Street, also increased their positions.
• The company recently beat quarterly earnings and revenue expectations, but sentiment remains mixed: analysts rate the stock Hold on average, even as Molson Coors announced a $0.48 quarterly dividend yielding about 4.9%.

Geode Capital Management LLC trimmed its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,477,094 shares of the company's stock after selling 30,007 shares during the quarter. Geode Capital Management LLC owned 2.27% of Molson Coors Beverage worth $208,625,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TAP. Dodge & Cox grew its holdings in Molson Coors Beverage by 29.4% in the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company's stock valued at $843,063,000 after buying an additional 4,235,029 shares in the last quarter. State Street Corp lifted 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 valued at $475,886,000 after acquiring an additional 1,693,682 shares during the period. Royal London Asset Management Ltd. lifted its position in shares of Molson Coors Beverage by 317.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company's stock valued at $98,297,000 after acquiring an additional 1,554,851 shares during the period. M&T Bank Corp lifted its position in shares of Molson Coors Beverage by 16,111.2% during the 4th quarter. M&T Bank Corp now owns 1,499,699 shares of the company's stock valued at $70,006,000 after acquiring an additional 1,490,448 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Molson Coors Beverage by 22.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,425,043 shares of the company's stock valued at $290,741,000 after acquiring an additional 1,195,249 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Molson Coors Beverage

In other news, Director Andrew Thomas Molson acquired 2,000 shares of the business's stock in a transaction dated Monday, March 9th. The stock was purchased at an average cost of $46.67 per share, for a total transaction of $93,340.00. Following the acquisition, the director owned 24,654 shares of the company's stock, valued at $1,150,602.18. This trade represents a 8.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Geoffrey E. Molson sold 1,245 shares of the company's stock in a transaction dated 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 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 SEC filing for this sale provides additional information. 2.27% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $38.94 on Wednesday. Molson Coors Beverage Company has a fifty-two week low of $38.67 and a fifty-two week high of $54.82. The stock has a fifty day moving average of $42.62 and a 200-day moving average of $45.88. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The stock has a market cap of $7.30 billion, a PE ratio of -3.66 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results 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 positive return on equity of 9.79% and a negative net margin of 16.14%.The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.33 billion. During the same period in the previous year, the business earned $0.50 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. Equities research analysts anticipate that Molson Coors Beverage Company will post 4.74 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors 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 is Friday, May 29th. Molson Coors Beverage's payout ratio is presently -18.05%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TAP. Barclays cut their target price on Molson Coors Beverage from $43.00 to $41.00 and set an "underweight" rating for the company in a research report on Friday, May 1st. TD Cowen dropped their target price on Molson Coors Beverage from $47.00 to $43.00 and set a "hold" rating on the stock in a report on Friday, February 20th. Evercore dropped their target price on Molson Coors Beverage from $50.00 to $47.00 and set an "outperform" rating on the stock in a report on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $45.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, April 27th. Finally, Piper Sandler dropped their price target on Molson Coors Beverage from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, February 19th. Four equities research 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, Molson Coors Beverage currently has an average rating of "Hold" and a consensus target price of $45.29.

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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