Vise Technologies Inc. Buys 18,697 Shares of Molson Coors Beverage Company $TAP

Vise Technologies Inc. raised its stake in Molson Coors Beverage Company (NYSE:TAP) by 365.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,820 shares of the company’s stock after buying an additional 18,697 shares during the period. Vise Technologies Inc.’s holdings in Molson Coors Beverage were worth $1,112,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TAP. Caxton Associates LLP bought a new stake in shares of Molson Coors Beverage in the 1st quarter valued at about $202,000. United Services Automobile Association bought a new stake in shares of Molson Coors Beverage in the 1st quarter valued at about $215,000. Woodline Partners LP grew its position in shares of Molson Coors Beverage by 38.7% in the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after buying an additional 4,056 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after buying an additional 198 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Molson Coors Beverage by 4.7% in the 2nd quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock valued at $19,889,000 after buying an additional 18,566 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Insiders Place Their Bets

In related news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the transaction, the director directly owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Up 1.4%

Shares of Molson Coors Beverage stock opened at $39.62 on Tuesday. Molson Coors Beverage Company has a one year low of $38.04 and a one year high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. The stock’s 50-day moving average is $42.36 and its 200 day moving average is $45.62. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of -3.72 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is -18.05%.

Analyst Ratings Changes

A number of equities research analysts have commented on TAP shares. JPMorgan Chase & Co. reduced their price target on Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, April 27th. Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Roth Mkm set a $58.00 target price on Molson Coors Beverage in a research report on Thursday, February 19th. Barclays cut their target price on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, May 1st. Finally, TD Cowen cut their target price on Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.00.

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.