Dimensional Fund Advisors LP Grows Stake in Molson Coors Beverage Company $TAP

Dimensional Fund Advisors LP grew its position in Molson Coors Beverage Company (NYSE:TAP) by 10.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 8,363,157 shares of the company’s stock after purchasing an additional 790,314 shares during the period. Dimensional Fund Advisors LP’s holdings in Molson Coors Beverage were worth $360,117,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. increased its position in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after buying an additional 198 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Molson Coors Beverage by 16.5% during the 4th quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock worth $68,000 after acquiring an additional 208 shares during the period. New York Life Investment Management LLC raised its stake in Molson Coors Beverage by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock worth $1,069,000 after purchasing an additional 210 shares during the period. Smartleaf Asset Management LLC raised its position in shares of 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 buying an additional 221 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in shares of 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 purchasing an additional 244 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction 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 transaction, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $40.85 on Wednesday. Molson Coors Beverage Company has a 52-week low of $38.04 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 firm has a market capitalization of $7.66 billion, a PE ratio of -3.84 and a beta of 0.42. The firm has a 50-day moving average price of $40.28 and a 200 day moving average price of $44.19.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter in the previous year, the company earned $0.50 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Molson Coors Beverage Company will post 4.8 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 28th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.92 annualized dividend and a dividend yield of 4.7%. Molson Coors Beverage’s payout ratio is currently -18.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 target price on shares of Molson Coors Beverage in a report on Friday, May 1st. Needham & Company LLC reduced their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 1st. UBS Group reduced their price target on shares of Molson Coors Beverage from $46.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. The Goldman Sachs Group lifted their price objective on shares of Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Finally, Zacks Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.06.

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.