18,304 Shares in Molson Coors Beverage Company $TAP Bought by AXQ Capital LP

AXQ Capital LP bought a new position in Molson Coors Beverage Company (NYSE:TAP) during the fourth quarter, HoldingsChannel reports. The fund bought 18,304 shares of the company’s stock, valued at approximately $854,000.

Other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC bought a new position in Molson Coors Beverage in the 4th quarter worth $25,000. SBI Securities Co. Ltd. boosted its position in shares of Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after purchasing an additional 244 shares during the period. Basepoint Wealth LLC bought a new position in shares of Molson Coors Beverage in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its position in shares of 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 purchasing an additional 221 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of Molson Coors Beverage by 551.1% during 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. 78.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Andrew Thomas Molson bought 2,000 shares of Molson Coors Beverage stock in a transaction dated Monday, March 9th. The shares were acquired at an average price of $46.67 per share, with a total value of $93,340.00. Following the completion of 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 acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction 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 directly owned 9,871 shares in the company, valued at approximately $419,517.50. This represents 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.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Friday, March 27th. Sanford C. Bernstein dropped their target price on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, May 26th. Piper Sandler dropped their target price on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, February 19th. Jefferies Financial Group dropped their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “hold” rating for the company in a research report on Monday, April 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 target price on shares of Molson Coors Beverage in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.29.

Molson Coors Beverage Price Performance

TAP stock opened at $38.94 on Wednesday. Molson Coors Beverage Company has a 52 week low of $38.67 and a 52 week high of $54.82. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $42.62 and a two-hundred day simple moving average of $45.88. The firm has a market capitalization of $7.30 billion, a P/E ratio of -3.66 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data 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 negative net margin of 16.14% and a positive return on equity of 9.79%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the business earned $0.50 earnings per share. Molson Coors Beverage’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Molson Coors Beverage Company will post 4.74 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, June 12th. Stockholders of record on Friday, May 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.9%. Molson Coors Beverage’s dividend payout ratio is currently -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.