Stephens Inc. AR Acquires 53,503 Shares of Molson Coors Beverage Company $TAP

Key Points

• Stephens Inc. AR boosted its stake in Molson Coors Beverage by 245.2% in the first quarter, buying 53,503 additional shares to bring its total to 75,322 shares worth about $3.24 million.
• Other institutions also adjusted holdings, and overall institutional investors own 78.46% of the stock, while insiders own 2.27%. Director Geoffrey E. Molson also sold 1,245 shares in May.
• Analysts are cautious on TAP: the stock has a “Hold” consensus rating with a $44.76 target price, even though the company recently beat earnings estimates and pays a quarterly dividend yielding about 4.9%.

Stephens Inc. AR grew its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 245.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,322 shares of the company's stock after purchasing an additional 53,503 shares during the quarter. Stephens Inc. AR's holdings in Molson Coors Beverage were worth $3,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. GoalVest Advisory LLC bought a new stake in Molson Coors Beverage in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. increased 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 in the last quarter. Basepoint Wealth LLC bought a new stake in Molson Coors Beverage in the 4th quarter valued at about $26,000. Smartleaf Asset Management LLC raised its stake in Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock worth $27,000 after buying an additional 221 shares during the period. Finally, Larson Financial Group LLC raised its stake in Molson Coors Beverage by 551.1% during the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company's stock worth $29,000 after buying an additional 518 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the 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 completion of the transaction, the director directly owned 9,871 shares of the company's stock, valued at $419,517.50. This represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of recent research reports. Weiss Ratings restated a "sell (d)" rating on shares of Molson Coors Beverage in a research note on Wednesday, June 24th. BNP Paribas Exane dropped their price objective on shares of Molson Coors Beverage from $36.00 to $35.00 and set an "underperform" rating on the stock in a research note on Wednesday, June 3rd. 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. Wells Fargo & Company lowered their target price on shares of Molson Coors Beverage from $43.00 to $41.00 and set an "equal weight" rating on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $42.00 price target on shares of Molson Coors Beverage in a research report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $44.76.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $38.83 on Thursday. The company has a market capitalization of $7.28 billion, a PE ratio of -3.65 and a beta of 0.42. 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's 50 day moving average price is $40.68 and its 200-day moving average price is $44.60. Molson Coors Beverage Company has a twelve month low of $38.04 and a twelve month high of $54.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.26. The business 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%.Molson Coors Beverage'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. On average, equities analysts anticipate that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Dividend Announcement

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

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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