Pacer Advisors Inc. Has $42.39 Million Stock Holdings in Molson Coors Beverage Company $TAP

Key Points

• Pacer Advisors dramatically increased its stake in Molson Coors Beverage, boosting holdings by 3,664.4% in the fourth quarter to 908,166 shares worth about $42.4 million.
• Molson Coors posted a stronger-than-expected quarter, with EPS of $0.62 versus the $0.36 estimate and revenue of $2.35 billion, while analysts currently rate the stock Hold on average with a consensus target price of $44.88.
• The company paid a quarterly dividend of $0.48 per share, equal to an annualized yield of about 4.9%, even as insider Geoffrey E. Molson recently sold 1,245 shares.

Pacer Advisors Inc. boosted its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 3,664.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 908,166 shares of the company's stock after purchasing an additional 884,041 shares during the period. Pacer Advisors Inc. owned about 0.46% of Molson Coors Beverage worth $42,393,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. lifted its position in shares of Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock worth $25,000 after buying an additional 244 shares during the period. Basepoint Wealth LLC acquired a new stake in Molson Coors Beverage in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC boosted its stake in Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock valued at $27,000 after buying an additional 221 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in Molson Coors Beverage by 551.1% in the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company's stock valued at $29,000 after acquiring an additional 518 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the transaction, the director directly owned 9,871 shares in the company, valued at approximately $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.27% of the company's stock.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $39.37 on Friday. The business's fifty day moving average is $41.74 and its two-hundred day moving average is $45.26. 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 firm has a market cap of $7.38 billion, a P/E ratio of -3.70 and a beta of 0.41. Molson Coors Beverage Company has a 52 week low of $38.04 and a 52 week high of $54.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.26. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Equities research analysts forecast that Molson Coors Beverage Company will post 4.8 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.9%. Molson Coors Beverage's payout ratio is currently -18.05%.

Analyst Ratings Changes

Several research analysts have issued reports on TAP shares. Barclays dropped their price objective on Molson Coors Beverage from $43.00 to $41.00 and set an "underweight" rating for the company in a research note on Friday, May 1st. Evercore lowered their target price on shares of Molson Coors Beverage from $50.00 to $47.00 and set an "outperform" rating on the stock in a report on Tuesday, April 21st. Zacks Research upgraded shares of Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $42.00 price target on shares of Molson Coors Beverage in a report on Friday, May 1st. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Molson Coors Beverage in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $44.88.

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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