Wilsey Asset Management Inc. Raises Position in Molson Coors Beverage Company $TAP

Wilsey Asset Management Inc. lifted its holdings in Molson Coors Beverage Company (NYSE:TAP) by 4.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,259 shares of the company’s stock after purchasing an additional 27,819 shares during the quarter. Molson Coors Beverage comprises about 4.9% of Wilsey Asset Management Inc.’s portfolio, making the stock its 14th biggest position. Wilsey Asset Management Inc. owned approximately 0.30% of Molson Coors Beverage worth $26,754,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TAP. Norges Bank acquired a new stake in Molson Coors Beverage in the second quarter worth about $134,289,000. Ameriprise Financial Inc. boosted its stake in Molson Coors Beverage by 414.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock worth $120,960,000 after purchasing an additional 1,600,748 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Molson Coors Beverage by 317.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock valued at $98,297,000 after purchasing an additional 1,554,851 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Molson Coors Beverage in the second quarter worth $38,377,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Molson Coors Beverage by 2,728.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 730,153 shares of the company’s stock worth $35,113,000 after buying an additional 704,334 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Molson Coors Beverage news, Director David S. Coors acquired 2,245 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were bought at an average cost of $44.47 per share, with a total value of $99,835.15. Following the completion of the acquisition, the director owned 30,586 shares in the company, valued at approximately $1,360,159.42. This trade represents a 7.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew Thomas Molson acquired 7,500 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average price of $46.79 per share, with a total value of $350,925.00. Following the completion of the transaction, the director directly owned 22,654 shares of the company’s stock, valued at approximately $1,059,980.66. This represents a 49.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TAP shares. Needham & Company LLC reduced their target price on Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Barclays dropped their target price on Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating on the stock in a research report on Thursday, November 6th. Piper Sandler cut their price target on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Finally, Evercore ISI decreased their price objective on shares of Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.59.

Molson Coors Beverage Trading Down 0.8%

Shares of NYSE:TAP opened at $47.66 on Friday. The company has a market capitalization of $9.42 billion, a PE ratio of -4.46 and a beta of 0.45. Molson Coors Beverage Company has a 12-month low of $42.94 and a 12-month high of $64.66. The business has a 50 day moving average of $46.08 and a two-hundred day moving average of $48.17. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). Molson Coors Beverage had a positive return on equity of 8.78% and a negative net margin of 15.89%.The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.9%. Molson Coors Beverage’s dividend payout ratio is presently -17.60%.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.