RWC Asset Management LLP Grows Stock Position in Molson Coors Beverage Company $TAP

Key Points

• RWC Asset Management LLP increased its Molson Coors stake by 2.7% in the fourth quarter, bringing its total to 1,104,632 shares worth about $51.6 million. The position now represents 2.5% of RWC’s portfolio.
• Molson Coors reported better-than-expected quarterly results, earning $0.62 per share versus $0.36 expected on revenue of $2.35 billion. Revenue rose 2.0% year over year.
• The company declared a quarterly dividend of $0.48 per share, implying an annualized yield of 4.9%. However, analysts remain cautious overall, with a consensus rating of Hold and a $45 price target.

RWC Asset Management LLP increased its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,104,632 shares of the company's stock after purchasing an additional 28,929 shares during the period. Molson Coors Beverage makes up 2.5% of RWC Asset Management LLP's portfolio, making the stock its 8th biggest position. RWC Asset Management LLP owned approximately 0.56% of Molson Coors Beverage worth $51,564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TAP. GoalVest Advisory LLC acquired a new stake in Molson Coors Beverage in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. raised its position in Molson Coors Beverage by 84.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock valued at $25,000 after buying an additional 244 shares during the last quarter. Basepoint Wealth LLC acquired a new stake in Molson Coors Beverage in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its position 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 during the last quarter. Finally, Larson Financial Group LLC raised its position in Molson Coors Beverage by 551.1% in the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company's stock valued at $29,000 after buying an additional 518 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 0.1%

NYSE:TAP opened at $39.10 on Monday. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of -3.68 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 stock's 50 day moving average price is $42.41 and its two-hundred day moving average price is $45.67. 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 posted its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.26. The firm had revenue of $2.35 billion for 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 business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Equities research analysts expect that Molson Coors Beverage Company will post 4.74 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.9%. Molson Coors Beverage's payout ratio is -18.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TAP shares. Piper Sandler dropped their target price on Molson Coors Beverage from $50.00 to $45.00 and set a "neutral" rating on the stock in a research report on Thursday, February 19th. Needham & Company LLC dropped their target price on Molson Coors Beverage from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Roth Mkm set a $58.00 target price on Molson Coors Beverage in a research report on Thursday, February 19th. Zacks Research raised Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a research report on Monday, April 13th. Finally, UBS Group dropped their target price on Molson Coors Beverage from $50.00 to $45.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 7th. 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, the company currently has a consensus rating of "Hold" and a consensus price target of $45.00.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the business'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 transaction, the director owned 9,871 shares of the company's stock, valued at $419,517.50. The trade was a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.27% of the stock is owned by company insiders.

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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