Financial Solutions Advisory Group Inc. Acquires New Shares in Molson Coors Beverage Company $TAP

Financial Solutions Advisory Group Inc. purchased a new stake in shares of Molson Coors Beverage Company (NYSE:TAP) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,216 shares of the company’s stock, valued at approximately $1,086,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $125,755,000. Goldman Sachs Group Inc. grew its stake in Molson Coors Beverage by 265.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock worth $136,400,000 after buying an additional 2,122,085 shares in the last quarter. State Street Corp grew its stake in Molson Coors Beverage by 19.2% in the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock worth $475,886,000 after buying an additional 1,693,682 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of Molson Coors Beverage by 317.9% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock worth $98,297,000 after buying an additional 1,554,851 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Molson Coors Beverage by 152.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,531,145 shares of the company’s stock worth $118,154,000 after buying an additional 1,528,004 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TAP has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Evercore cut their target price on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. TD Cowen upgraded shares of Molson Coors Beverage to a “hold” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. decreased their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, April 27th. Finally, Barclays lowered their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $44.00.

Insider Transactions at Molson Coors Beverage

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

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $41.63 on Friday. 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 firm has a market capitalization of $7.81 billion, a P/E ratio of -3.91 and a beta of 0.42. The business has a fifty day simple moving average of $40.23 and a two-hundred day simple moving average of $43.90. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 earnings per share. On average, equities analysts forecast that Molson Coors Beverage Company will post 4.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 28th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.92 annualized dividend and a yield of 4.6%. Molson Coors Beverage’s payout ratio is -18.05%.

Molson Coors Beverage 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.