Molson Coors Beverage Company $TAP Shares Sold by Empowered Funds LLC

Empowered Funds LLC trimmed its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 19.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 138,451 shares of the company's stock after selling 32,412 shares during the period. Empowered Funds LLC owned 0.07% of Molson Coors Beverage worth $5,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Fairfax Financial Holdings Ltd. Can grew its stake in shares of Molson Coors Beverage by 3.8% in the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 1,338,500 shares of the company's stock valued at $62,495,000 after buying an additional 48,429 shares in the last quarter. Oak Thistle LLC acquired a new position in Molson Coors Beverage during the 4th quarter worth approximately $3,194,000. Delta Global Management LP acquired a new position in Molson Coors Beverage during the 4th quarter worth approximately $2,360,000. Jefferies Financial Group Inc. boosted its holdings in Molson Coors Beverage by 187.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 43,318 shares of the company's stock worth $2,022,000 after acquiring an additional 28,272 shares during the period. Finally, Skylands Capital LLC boosted its holdings in Molson Coors Beverage by 38.0% in the 1st quarter. Skylands Capital LLC now owns 342,800 shares of the company's stock worth $14,761,000 after acquiring an additional 94,475 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.2%

NYSE TAP opened at $41.63 on Friday. The company's fifty day moving average price is $40.23 and its two-hundred day moving average price is $43.90. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of -3.91 and a beta of 0.42. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick 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 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 business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts predict that Molson Coors Beverage Company will post 4.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 28th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, August 28th. Molson Coors Beverage's payout ratio is currently -18.05%.

Wall Street Analyst Weigh In

TAP has been the subject of several recent research reports. Needham & Company LLC lowered their price objective on shares of Molson Coors Beverage from $52.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, May 1st. The Goldman Sachs Group boosted their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. TD Cowen upgraded shares of Molson Coors Beverage to a "hold" rating in a research note on Friday, June 26th. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Finally, Evercore dropped their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $44.00.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the company's 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 in the company, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.27% of the stock is owned by insiders.

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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