Molson Coors Beverage Company $TAP Shares Sold by Empowered Funds LLC

Empowered Funds LLC reduced its holdings in Molson Coors Beverage Company (NYSE:TAP) by 19.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 138,451 shares of the company’s stock after selling 32,412 shares during the period. Empowered Funds LLC’s holdings in Molson Coors Beverage were worth $5,962,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. grew its position in shares of Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after buying an additional 244 shares during the last quarter. Basepoint Wealth LLC bought a new position in Molson Coors Beverage in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC lifted its holdings in Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after acquiring an additional 221 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Molson Coors Beverage by 551.1% in the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after acquiring an additional 518 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in Molson Coors Beverage by 223.0% in the fourth quarter. Clearstead Advisors LLC now owns 659 shares of the company’s stock valued at $31,000 after acquiring an additional 455 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 9,871 shares in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP 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 business’s 50 day moving average is $40.23 and its 200-day moving average is $43.90. The stock has a market cap of $7.81 billion, a PE ratio of -3.91 and a beta of 0.42. Molson Coors Beverage Company has a twelve month low of $38.04 and a twelve month high of $54.82.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts predict that Molson Coors Beverage Company will post 4.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on TAP. Needham & Company LLC lowered their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, May 1st. The Goldman Sachs Group boosted their price objective on Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Morgan Stanley lowered their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Citigroup dropped their target price on Molson Coors Beverage from $47.00 to $42.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Finally, Evercore cut their target price on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.00.

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.