RWC Asset Management LLP Acquires 28,929 Shares of Molson Coors Beverage Company $TAP

RWC Asset Management LLP increased its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,104,632 shares of the company’s stock after acquiring an additional 28,929 shares during the quarter. Molson Coors Beverage comprises 2.5% of RWC Asset Management LLP’s portfolio, making the stock its 8th biggest holding. RWC Asset Management LLP’s holdings in Molson Coors Beverage were worth $51,564,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GoalVest Advisory LLC acquired a new position in shares of Molson Coors Beverage during the 4th quarter worth approximately $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 acquiring an additional 244 shares during the last quarter. Basepoint Wealth LLC acquired a new position in shares of Molson Coors Beverage during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its holdings in shares of Molson Coors Beverage by 64.2% during 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 holdings in shares of Molson Coors Beverage by 551.1% during 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. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. The Goldman Sachs Group boosted their price target on Molson Coors Beverage from $48.00 to $50.00 in a research note on Friday, May 1st. Jefferies Financial Group reduced their price target on Molson Coors Beverage from $45.00 to $43.00 and set a “hold” rating for the company in a research note on Monday, April 20th. JPMorgan Chase & Co. reduced their price target on Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. Finally, TD Cowen reduced their price target on Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Four 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.00.

Molson Coors Beverage Stock Performance

TAP opened at $39.10 on Monday. The business has a fifty day simple moving average of $42.41 and a 200 day simple moving average of $45.67. The company has a market capitalization of $7.33 billion, a PE ratio of -3.68 and a beta of 0.41. Molson Coors Beverage Company has a 1 year low of $38.04 and a 1 year 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 released its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. The business had revenue of $2.35 billion during 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 firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 EPS. Research analysts expect that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is presently -18.05%.

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 on 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 sale, the director directly owned 9,871 shares in the company, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.27% of the company’s stock.

About Molson Coors Beverage

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.