Healthcare of Ontario Pension Plan Trust Fund Purchases 893,986 Shares of Molson Coors Beverage Company $TAP

Key Points

• Healthcare of Ontario Pension Plan Trust Fund dramatically increased its stake in Molson Coors Beverage during the fourth quarter, buying 893,986 additional shares and bringing its total holding to 900,692 shares valued at about $42 million.
• Analyst sentiment is mixed to cautious, with the stock carrying a consensus “Hold” rating and an average price target of $44.88. Recent moves included downgraded targets from Morgan Stanley and Wells Fargo, while some firms still maintain Buy ratings.
• Molson Coors recently beat quarterly earnings and revenue estimates, reporting EPS of $0.62 versus $0.36 expected and revenue of $2.35 billion. The company also paid a quarterly dividend of $0.48 per share, implying an annualized yield of 4.6%.

Healthcare of Ontario Pension Plan Trust Fund raised its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 13,331.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 900,692 shares of the company's stock after acquiring an additional 893,986 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.46% of Molson Coors Beverage worth $42,044,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC bought a new position in Molson Coors Beverage in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. lifted its holdings in 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 acquiring an additional 244 shares during the period. Basepoint Wealth LLC bought a new position in Molson Coors Beverage in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its holdings in 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 acquiring an additional 221 shares during the period. Finally, Larson Financial Group LLC raised its stake 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 worth $29,000 after buying an additional 518 shares during the period. Institutional investors own 78.46% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TAP shares. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Molson Coors Beverage in a research report on Friday, March 27th. Roth Mkm set a $58.00 price objective on Molson Coors Beverage in a research report on Thursday, February 19th. Morgan Stanley lowered their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Monday, May 4th. Finally, Wells Fargo & Company lowered their price objective on 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. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $44.88.

Insider Transactions at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction that occurred 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 owned 9,871 shares of the company's stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.27% of the company's stock.

Molson Coors Beverage Stock Down 0.1%

TAP stock opened at $41.56 on Monday. The business's 50-day moving average price is $42.19 and its 200-day moving average price is $45.48. The stock has a market cap of $7.79 billion, a P/E ratio of -3.91 and a beta of 0.41. Molson Coors Beverage Company has a twelve month low of $38.04 and a twelve month 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.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.50 EPS. On average, equities research analysts forecast that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Dividend Announcement

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