Molson Coors Beverage (NYSE:TAP) Director Sells $52,912.50 in Stock

Molson Coors Beverage Company (NYSE:TAP) Director Geoffrey 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 owned 9,871 shares in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Molson Coors Beverage Trading Down 0.0%

Shares of NYSE:TAP traded down $0.01 during trading on Friday, reaching $42.52. 2,106,477 shares of the company were exchanged, compared to its average volume of 3,124,267. The business’s fifty day simple moving average is $42.90 and its 200-day simple moving average is $46.08. The firm has a market capitalization of $7.97 billion, a PE ratio of -4.00 and a beta of 0.44. Molson Coors Beverage Company has a 12-month low of $40.64 and a 12-month high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last issued its 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. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company posted $0.50 EPS. Molson Coors Beverage’s revenue was up 2.0% on a year-over-year basis. On average, research analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors 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 dividend on an annualized basis and a yield of 4.5%. Molson Coors Beverage’s dividend payout ratio is -18.05%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dodge & Cox lifted its stake in shares of Molson Coors Beverage by 29.4% during the third quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock worth $843,063,000 after buying an additional 4,235,029 shares during the period. Norges Bank purchased a new stake in Molson Coors Beverage during the 4th quarter valued at about $125,755,000. Goldman Sachs Group Inc. grew its stake in Molson Coors Beverage by 265.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock valued at $136,400,000 after purchasing an additional 2,122,085 shares during the last quarter. State Street Corp increased its holdings in shares of Molson Coors Beverage by 19.2% in the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after purchasing an additional 1,693,682 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in shares of Molson Coors Beverage by 317.9% in the second quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock worth $98,297,000 after purchasing an additional 1,554,851 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the subject of several recent research reports. Jefferies Financial Group reduced their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “hold” rating for the company in a report on Monday, April 20th. Wall Street Zen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $42.00 price objective on shares of Molson Coors Beverage in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Friday, March 27th. Finally, TD Cowen dropped their target price on Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average target price of $45.59.

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.