Lecap Asset Management Ltd. purchased a new position in Molson Coors Beverage Company (NYSE:TAP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,253 shares of the company's stock, valued at approximately $381,000.
Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Molson Coors Beverage in the 4th quarter worth approximately $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new stake in shares of Molson Coors Beverage during the fourth quarter worth $68,010,000. Estuary Capital Management LP purchased a new stake in shares of Molson Coors Beverage during the fourth quarter valued at $39,052,000. Freestone Grove Partners LP acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $29,913,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $27,660,000. Hedge funds and other institutional investors own 78.46% of the company's stock.
Insider Buying and Selling at Molson Coors Beverage
In related news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the transaction, the director now owns 27,595 shares in the company, valued at $1,553,322.55. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.71% of the company's stock.
Molson Coors Beverage Stock Performance
NYSE TAP opened at $47.25 on Friday. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 1.76 and a beta of 0.72. Molson Coors Beverage Company has a twelve month low of $47.05 and a twelve month high of $64.66. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average of $53.91 and a 200 day moving average of $56.75.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The business had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. Sell-side analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.
Molson Coors Beverage Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend was Friday, June 6th. Molson Coors Beverage's payout ratio is 37.83%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on TAP shares. Berenberg Bank started coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price objective on the stock. Piper Sandler reduced their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $61.79.
Check Out Our Latest Report on TAP
Molson Coors Beverage Company Profile
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Free Report)
Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.
Further Reading
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