Jefferies Financial Group Inc. Increases Position in Molson Coors Beverage Company $TAP

Key Points

• Jefferies Financial Group increased its Molson Coors stake by 187.9% in the fourth quarter, ending with 43,318 shares valued at about $2.0 million.
• Molson Coors reported better-than-expected quarterly results, with EPS of $0.62 versus the $0.36 estimate and revenue of $2.35 billion, up 2% year over year.
• Analysts remain cautious overall: several firms cut price targets or ratings, and the stock currently carries a consensus Hold rating with an average target of $45.29.

Jefferies Financial Group Inc. lifted its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 187.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 43,318 shares of the company's stock after buying an additional 28,272 shares during the period. Jefferies Financial Group Inc.'s holdings in Molson Coors Beverage were worth $2,022,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TAP. Caxton Associates LLP purchased a new position in shares of Molson Coors Beverage during the first quarter valued at approximately $202,000. United Services Automobile Association purchased a new position in shares of Molson Coors Beverage during the first quarter valued at approximately $215,000. Woodline Partners LP lifted its stake in shares of Molson Coors Beverage by 38.7% during the first quarter. Woodline Partners LP now owns 14,546 shares of the company's stock valued at $885,000 after buying an additional 4,056 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of 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 buying an additional 198 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Molson Coors Beverage by 4.7% during the second quarter. First Trust Advisors LP now owns 413,578 shares of the company's stock valued at $19,889,000 after buying an additional 18,566 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction on 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 sale, the director owned 9,871 shares of the company's stock, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew Thomas Molson acquired 2,000 shares of the company's stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $46.67 per share, with a total value of $93,340.00. Following the transaction, the director directly owned 24,654 shares of the company's stock, valued at approximately $1,150,602.18. This represents a 8.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TAP shares. Wells Fargo & Company reduced 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 note on Monday, May 18th. Bank of America lowered shares of Molson Coors Beverage from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $50.00 to $42.00 in a research report on Wednesday, February 25th. Zacks Research raised shares of Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Roth Mkm set a $58.00 price target on shares of Molson Coors Beverage in a research report on Thursday, February 19th. Finally, Jefferies Financial Group dropped their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set a "hold" rating for the company in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, eleven have assigned 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 price target of $45.29.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $41.87 on Thursday. Molson Coors Beverage Company has a one year low of $40.64 and a one year high of $54.82. 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 company has a 50 day moving average price of $42.77 and a 200 day moving average price of $46.03. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of -3.94 and a beta of 0.44.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share (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 company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.6%. Molson Coors Beverage's dividend payout ratio is presently -18.05%.

Molson Coors Beverage 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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