Swedbank AB Has $3.48 Million Holdings in Molson Coors Beverage Company $TAP

Swedbank AB reduced its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 24.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,522 shares of the company’s stock after selling 23,864 shares during the quarter. Swedbank AB’s holdings in Molson Coors Beverage were worth $3,479,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Dodge & Cox raised its stake in Molson Coors Beverage by 29.4% during the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock valued at $843,063,000 after purchasing an additional 4,235,029 shares during the last quarter. State Street Corp raised its stake in Molson Coors Beverage by 19.2% during the 3rd 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 last quarter. Dimensional Fund Advisors LP raised its stake in Molson Coors Beverage by 22.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,425,043 shares of the company’s stock valued at $290,741,000 after purchasing an additional 1,195,249 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in Molson Coors Beverage by 317.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock valued at $98,297,000 after purchasing an additional 1,554,851 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in Molson Coors Beverage by 21.2% during the 3rd quarter. Schroder Investment Management Group now owns 1,947,454 shares of the company’s stock valued at $88,122,000 after purchasing an additional 340,433 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 1.6%

Shares of Molson Coors Beverage stock opened at $41.87 on Thursday. The firm has a market capitalization of $7.85 billion, a PE ratio of -3.94 and a beta of 0.44. 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 company’s fifty day moving average price is $42.77 and its two-hundred day moving average price is $46.03. Molson Coors Beverage Company has a 52-week low of $40.64 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 (EPS) for the quarter, beating the consensus estimate 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 for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. On average, analysts expect that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage’s payout ratio is -18.05%.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Andrew Thomas Molson purchased 2,000 shares of the stock in a transaction on Monday, March 9th. The shares were purchased at an average price of $46.67 per share, with a total value of $93,340.00. Following the acquisition, the director directly owned 24,654 shares of the company’s stock, valued at $1,150,602.18. This represents a 8.83% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the director directly owned 9,871 shares in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TAP shares. TD Cowen cut their target price on shares of 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. The Goldman Sachs Group upped their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a research note on Friday, May 1st. Zacks Research upgraded shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $42.00 price target on shares of Molson Coors Beverage in a report on Friday, May 1st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a report on Friday, March 27th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.29.

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.