National Pension Service Acquires Shares of 17,882 Molson Coors Beverage Company $TAP

National Pension Service acquired a new position in shares of Molson Coors Beverage Company (NYSE:TAP) during the 3rd quarter, Holdings Channel reports. The firm acquired 17,882 shares of the company’s stock, valued at approximately $809,000.

A number of other institutional investors also recently modified their holdings of TAP. Root Financial Partners LLC bought a new position in Molson Coors Beverage during the third quarter worth about $25,000. Clearstead Trust LLC boosted its holdings in Molson Coors Beverage by 952.8% in the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after purchasing an additional 505 shares during the period. Smartleaf Asset Management LLC grew its position in shares of 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 purchasing an additional 221 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Molson Coors Beverage by 175.7% during the third quarter. Versant Capital Management Inc now owns 1,202 shares of the company’s stock worth $54,000 after purchasing an additional 766 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the subject of several recent research reports. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. BNP Paribas Exane downgraded Molson Coors Beverage from a “hold” rating to a “strong sell” rating and set a $40.00 target price for the company. in a research report on Friday, January 16th. Jefferies Financial Group reduced their target price on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. 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. Finally, Barclays reaffirmed an “underweight” rating and set a $49.00 price objective on shares of Molson Coors Beverage in a research report on Friday, January 16th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus price target of $53.18.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Andrew Thomas Molson bought 7,500 shares of Molson Coors Beverage stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $46.79 per share, with a total value of $350,925.00. Following the acquisition, the director directly owned 22,654 shares of the company’s stock, valued at $1,059,980.66. The trade was a 49.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.71% of the stock is owned by insiders.

Molson Coors Beverage Trading Up 1.9%

NYSE TAP opened at $49.33 on Wednesday. The company has a market cap of $9.75 billion, a price-to-earnings ratio of -4.62 and a beta of 0.48. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The company has a quick ratio of 0.45, a current ratio of 0.60 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average is $47.55 and its 200 day moving average is $47.71.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.05). The firm had revenue of $2.97 billion during 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%. As a group, sell-side analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.47 per share. The ex-dividend date was Friday, December 5th. This represents a $1.88 annualized dividend and a yield of 3.8%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -17.60%.

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.