Sei Investments Co. Has $11.20 Million Position in Molson Coors Beverage Company $TAP

Sei Investments Co. increased its stake in Molson Coors Beverage Company (NYSE:TAP) by 27.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259,989 shares of the company’s stock after purchasing an additional 55,410 shares during the period. Sei Investments Co. owned 0.14% of Molson Coors Beverage worth $11,195,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TAP. Caxton Associates LLP bought a new position in Molson Coors Beverage in the first quarter valued at about $202,000. United Services Automobile Association acquired a new stake in shares of Molson Coors Beverage during the first quarter worth $215,000. Woodline Partners LP grew its position in shares of Molson Coors Beverage by 38.7% during the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock worth $885,000 after buying an additional 4,056 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Molson Coors Beverage by 4.7% in the 2nd quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock valued at $19,889,000 after acquiring an additional 18,566 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE TAP opened at $41.63 on Friday. 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 market cap of $7.81 billion, a price-to-earnings ratio of -3.91 and a beta of 0.42. The business has a 50 day simple moving average of $40.23 and a 200 day simple moving average of $43.90. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Analysts anticipate that Molson Coors Beverage Company will post 4.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders 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 4.6%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -18.05%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of 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. Wells Fargo & Company lowered their target price on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Zacks Research upgraded shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Barclays reduced their price target on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, May 1st. Finally, UBS Group decreased their price target on shares of Molson Coors Beverage from $46.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Four 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’s stock. According to MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $44.00.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction dated 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 directly owned 9,871 shares of the company’s stock, valued at $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 available at this hyperlink. 2.27% of the stock is owned by corporate insiders.

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.