Norges Bank Buys New Shares in Molson Coors Beverage Company $TAP

Norges Bank purchased a new position in shares of Molson Coors Beverage Company (NYSE:TAP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,693,990 shares of the company’s stock, valued at approximately $125,755,000.

Other large investors also recently bought and sold shares of the company. GoalVest Advisory LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. increased its holdings in shares of Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after buying an additional 244 shares during the last quarter. Basepoint Wealth LLC purchased a new position in shares of Molson Coors Beverage in the 4th quarter worth $26,000. 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, Larson Financial Group LLC boosted its holdings in Molson Coors Beverage by 551.1% in the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock valued at $29,000 after acquiring an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Insider Buying and Selling at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s 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 of the company’s stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Thomas Molson purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average cost of $46.67 per share, for a total transaction of $93,340.00. Following the purchase, the director directly owned 24,654 shares in the company, valued at $1,150,602.18. This trade represents a 8.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TAP has been the subject of a number of research reports. Wall Street Zen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. TD Cowen reduced their price objective on Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating on the stock in a research note on Friday, February 20th. Morgan Stanley decreased their target price on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. 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. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $42.00 price target on shares of Molson Coors Beverage in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Molson Coors Beverage Trading Down 0.5%

Shares of TAP opened at $38.44 on Friday. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82. The stock’s 50-day moving average is $42.45 and its two-hundred day moving average is $45.71. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. The stock has a market cap of $7.21 billion, a PE ratio of -3.61 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.36 by $0.26. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate 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 revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $0.50 EPS. Equities analysts forecast 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 is Friday, May 29th. This represents a $1.92 annualized dividend and a dividend yield of 5.0%. Molson Coors Beverage’s dividend payout ratio is -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.