Healthcare of Ontario Pension Plan Trust Fund Acquires 893,986 Shares of Molson Coors Beverage Company $TAP

Healthcare of Ontario Pension Plan Trust Fund grew its position in Molson Coors Beverage Company (NYSE:TAP) by 13,331.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 900,692 shares of the company’s stock after acquiring an additional 893,986 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Molson Coors Beverage were worth $42,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new stake in Molson Coors Beverage in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. increased its stake in Molson Coors Beverage by 84.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after acquiring an additional 244 shares during the last quarter. Basepoint Wealth LLC bought a new stake in Molson Coors Beverage in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its stake in Molson Coors Beverage by 64.2% in the 2nd 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. Finally, Larson Financial Group LLC increased its stake in Molson Coors Beverage by 551.1% in the 4th 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. Institutional investors own 78.46% of the company’s stock.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value 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 document filed 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 Price Performance

Shares of Molson Coors Beverage stock opened at $41.56 on Monday. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of -3.91 and a beta of 0.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The stock has a 50 day moving average price of $42.19 and a 200-day moving average price of $45.48. Molson Coors Beverage Company has a one year low of $38.04 and a one year high of $54.82.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. Equities analysts expect that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a $0.48 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.6%. Molson Coors Beverage’s payout ratio is -18.05%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TAP shares. JPMorgan Chase & Co. reduced their price objective on 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. Morgan Stanley reduced their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Piper Sandler reduced their price objective on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, February 19th. Evercore reduced their price objective 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. Finally, Barclays reduced their price objective on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.88.

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.