Molson Coors Beverage Company (TAP) To Go Ex-Dividend on May 29th

Molson Coors Beverage Company (NYSE:TAP) declared a quarterly dividend on Thursday, May 7th. Investors of record on Friday, May 29th will be given a dividend of 0.48 per share on Friday, June 12th. This represents a c) annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, May 29th.

Molson Coors Beverage has raised its dividend by an average of 0.3%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Molson Coors Beverage has a dividend payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Molson Coors Beverage to earn $5.00 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 38.4%.

Molson Coors Beverage Stock Down 3.2%

NYSE:TAP opened at $41.19 on Wednesday. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of -3.87 and a beta of 0.44. Molson Coors Beverage has a 1-year low of $40.64 and a 1-year high of $54.82. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $42.78 and its 200 day moving average price is $46.04.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.26. The firm 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. On average, sell-side analysts forecast that Molson Coors Beverage will post 4.74 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Andrew Thomas Molson purchased 2,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $46.67 per share, for a total transaction of $93,340.00. Following the purchase, the director owned 24,654 shares in the company, valued at $1,150,602.18. The trade was a 8.83% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $52,912.50. Following the sale, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.27% of the company’s stock.

Institutional Trading of Molson Coors Beverage

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its stake in Molson Coors Beverage by 36.5% during the 1st quarter. Bank of America Corp DE now owns 1,187,921 shares of the company’s stock valued at $51,152,000 after purchasing an additional 317,387 shares during the period. Kentucky Retirement Systems boosted its stake in Molson Coors Beverage by 24.0% during the 1st quarter. Kentucky Retirement Systems now owns 13,054 shares of the company’s stock valued at $562,000 after purchasing an additional 2,523 shares during the period. Janus Henderson Group PLC lifted its position in shares of Molson Coors Beverage by 3.2% in the 1st quarter. Janus Henderson Group PLC now owns 123,095 shares of the company’s stock worth $5,301,000 after acquiring an additional 3,848 shares during the period. Arkadios Wealth Advisors lifted its position in shares of Molson Coors Beverage by 29.4% in the 1st quarter. Arkadios Wealth Advisors now owns 14,009 shares of the company’s stock worth $603,000 after acquiring an additional 3,181 shares during the period. Finally, South Dakota Investment Council lifted its position in shares of Molson Coors Beverage by 43.5% in the 1st quarter. South Dakota Investment Council now owns 125,978 shares of the company’s stock worth $5,425,000 after acquiring an additional 38,200 shares during the period. Institutional investors own 78.46% of the company’s stock.

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.