AlphaQuest LLC Trims Holdings in Molson Coors Beverage Company $TAP

AlphaQuest LLC decreased its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 44.2% during the third quarter, HoldingsChannel.com reports. The firm owned 16,062 shares of the company’s stock after selling 12,729 shares during the period. AlphaQuest LLC’s holdings in Molson Coors Beverage were worth $727,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TAP. Root Financial Partners LLC purchased a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $25,000. Clearstead Trust LLC increased its position in shares of Molson Coors Beverage by 952.8% in the second quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock worth $27,000 after purchasing an additional 505 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Molson Coors Beverage by 64.2% in 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 in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after acquiring an additional 198 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in Molson Coors Beverage by 175.7% in the third quarter. Versant Capital Management Inc now owns 1,202 shares of the company’s stock valued at $54,000 after acquiring an additional 766 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Andrew Thomas Molson acquired 7,500 shares of Molson Coors Beverage stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $46.79 per share, for a total transaction of $350,925.00. Following the purchase, the director owned 22,654 shares in the company, valued at $1,059,980.66. This trade represents a 49.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.71% of the company’s stock.

Molson Coors Beverage Stock Up 1.9%

NYSE:TAP opened at $49.33 on Wednesday. Molson Coors Beverage Company has a 1-year low of $42.94 and a 1-year high of $64.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.60 and a quick ratio of 0.45. The firm’s 50-day moving average price is $47.55 and its 200-day moving average price is $47.71. The company has a market capitalization of $9.75 billion, a PE ratio of -4.62 and a beta of 0.48.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage had a negative net margin of 15.89% and a positive return on equity of 8.78%. On average, equities analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, December 5th. Molson Coors Beverage’s payout ratio is currently -17.60%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TAP. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Friday, November 14th. UBS Group raised their price target on Molson Coors Beverage from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Sanford C. Bernstein lowered their price target on shares of Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. started coverage on shares of Molson Coors Beverage in a report on Wednesday, November 5th. They set a “neutral” rating and a $49.00 target price for the company. Finally, Jefferies Financial Group cut their price objective on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $53.18.

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.