Woodline Partners LP Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Woodline Partners LP bought a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,490 shares of the company's stock, valued at approximately $601,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. iSAM Funds UK Ltd bought a new stake in Molson Coors Beverage in the 4th quarter valued at about $639,000. Vident Advisory LLC increased its position in Molson Coors Beverage by 0.9% in the 4th quarter. Vident Advisory LLC now owns 39,487 shares of the company's stock valued at $2,263,000 after buying an additional 352 shares in the last quarter. Two Sigma Advisers LP increased its position in Molson Coors Beverage by 7.9% in the 4th quarter. Two Sigma Advisers LP now owns 55,700 shares of the company's stock valued at $3,193,000 after buying an additional 4,100 shares in the last quarter. State of Wyoming increased its position in Molson Coors Beverage by 83.3% in the 4th quarter. State of Wyoming now owns 6,485 shares of the company's stock valued at $372,000 after buying an additional 2,947 shares in the last quarter. Finally, Strategic Global Advisors LLC increased its position in Molson Coors Beverage by 7.1% in the 4th quarter. Strategic Global Advisors LLC now owns 22,549 shares of the company's stock valued at $1,293,000 after buying an additional 1,490 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the transaction, the director now owns 27,595 shares in the company, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.71% of the stock is owned by company insiders.

Molson Coors Beverage Stock Performance

Shares of TAP stock traded down $0.15 during trading on Friday, hitting $53.55. The company's stock had a trading volume of 3,500,587 shares, compared to its average volume of 2,141,011. The company has a market cap of $10.83 billion, a PE ratio of 10.01, a P/E/G ratio of 1.52 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $57.72 and a 200-day moving average of $58.18. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business's revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.95 earnings per share. As a group, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.51%. Molson Coors Beverage's payout ratio is 37.83%.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of research analyst reports. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Wall Street Zen lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Needham & Company LLC decreased their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a report on Monday, May 12th. Morgan Stanley decreased their price objective on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Finally, Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $63.26.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.