Swedbank AB Lowers Position in Molson Coors Beverage Company $TAP

Key Points

• Swedbank AB cut its stake in Molson Coors Beverage by 24.3% in the fourth quarter, selling 23,864 shares and ending with 74,522 shares valued at about $3.48 million.
• Analysts remain cautious on TAP, with recent target-price cuts from TD Cowen, Jefferies, Piper Sandler, and Barclays. The stock’s consensus rating is still “Hold,” with an average target price of $45.71.
• Molson Coors reported stronger-than-expected quarterly results, posting EPS of $0.62 versus estimates of $0.36 and revenue of $2.35 billion, while also announcing a quarterly dividend of $0.48 per share, or $1.92 annually.

Swedbank AB lessened its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 24.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,522 shares of the company's stock after selling 23,864 shares during the quarter. Swedbank AB's holdings in Molson Coors Beverage were worth $3,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. GoalVest Advisory LLC purchased a new position in shares of Molson Coors Beverage in the fourth quarter worth $25,000. SBI Securities Co. Ltd. lifted its holdings in shares of Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock worth $25,000 after buying an additional 244 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Molson Coors Beverage in the third quarter worth $25,000. Smartleaf Asset Management LLC lifted its holdings in shares of Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock worth $27,000 after buying an additional 221 shares in the last quarter. Finally, IFP Advisors Inc lifted its holdings in shares of Molson Coors Beverage by 134.2% in the third quarter. IFP Advisors Inc now owns 787 shares of the company's stock worth $38,000 after buying an additional 451 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Andrew Thomas Molson purchased 2,000 shares of Molson Coors Beverage stock in a transaction that occurred on Monday, March 9th. The shares were bought at an average price of $46.67 per share, for a total transaction of $93,340.00. Following the completion of the transaction, the director owned 24,654 shares of the company's stock, valued at approximately $1,150,602.18. This trade represents a 8.83% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TAP shares. TD Cowen lowered their target price on shares of Molson Coors Beverage from $47.00 to $43.00 and set a "hold" rating on the stock in a report on Friday, February 20th. Jefferies Financial Group lowered their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a "hold" rating on the stock in a report on Monday, April 20th. Piper Sandler lowered their target price on shares of Molson Coors Beverage from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, February 19th. Barclays lowered their target price on shares of Molson Coors Beverage from $43.00 to $41.00 and set an "underweight" rating on the stock in a report on Friday, May 1st. Finally, Wall Street Zen upgraded shares of Molson Coors Beverage from a "hold" rating to a "buy" rating in a research report on Saturday. 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 stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $45.71.

Molson Coors Beverage Trading Down 1.7%

Shares of TAP opened at $42.40 on Friday. The company's fifty day moving average is $44.04 and its 200 day moving average is $46.33. Molson Coors Beverage Company has a fifty-two week low of $40.64 and a fifty-two week high of $57.57. The stock has a market capitalization of $7.97 billion, a PE ratio of -3.98 and a beta of 0.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced 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. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.33 billion. During the same quarter in the previous year, the business posted $0.50 earnings per share. Molson Coors Beverage's quarterly revenue was up 2.0% on a year-over-year basis. Sell-side analysts expect that Molson Coors Beverage Company will post 4.74 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage's payout ratio is currently -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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.