South Dakota Investment Council Has $5.42 Million Stake in Molson Coors Beverage Company $TAP

Key Points

• South Dakota Investment Council increased its Molson Coors stake by 43.5% in the first quarter, owning 125,978 shares valued at approximately $5.42 million. Institutional investors collectively hold 78.46% of TAP’s outstanding stock.
• Molson Coors reported quarterly earnings of $0.62 per share, beating estimates by $0.26, while revenue rose 2% year over year to $2.35 billion. Analysts currently have a consensus “Hold” rating and an average price target of $44.
• The company declared a quarterly dividend of $0.48 per share, or $1.92 annualized, representing a 4.6% yield. Shares recently opened at $41.53, near the lower end of their 12-month range.

South Dakota Investment Council raised its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 43.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,978 shares of the company's stock after purchasing an additional 38,200 shares during the period. South Dakota Investment Council owned approximately 0.07% of Molson Coors Beverage worth $5,425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Caxton Associates LLP bought a new stake in shares of Molson Coors Beverage in the first quarter valued at approximately $202,000. United Services Automobile Association bought a new position in Molson Coors Beverage during the 1st quarter worth $215,000. Woodline Partners LP raised its holdings in Molson Coors Beverage by 38.7% in the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company's stock valued at $885,000 after acquiring an additional 4,056 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after acquiring an additional 198 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Molson Coors Beverage by 4.7% during the 2nd quarter. First Trust Advisors LP now owns 413,578 shares of the company's stock valued at $19,889,000 after acquiring an additional 18,566 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Shares of TAP opened at $41.53 on Friday. Molson Coors Beverage Company has a 12-month low of $38.04 and a 12-month high of $54.82. The business has a 50-day simple moving average of $40.24 and a two-hundred day simple moving average of $43.92. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.79 billion, a PE ratio of -3.90 and a beta of 0.42.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.36 by $0.26. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.50 earnings per share. Analysts anticipate that Molson Coors Beverage Company will post 4.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, August 28th. Molson Coors Beverage's dividend payout ratio (DPR) is -18.05%.

Insider Transactions at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage 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 sale, the director directly owned 9,871 shares in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TAP has been the topic of a number of analyst reports. TD Cowen upgraded shares of Molson Coors Beverage to a "hold" rating in a research note on Friday, June 26th. Evercore cut their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an "outperform" rating for the company in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, July 22nd. Barclays decreased their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 and set an "underweight" rating on the stock in a research note on Friday, May 1st. Finally, Sanford C. Bernstein cut their target price on Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating for the company in a research note on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $44.00.

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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