Wincap Financial LLC Takes $787,000 Position in Molson Coors Beverage Company (NYSE:TAP)

Wincap Financial LLC bought a new position in shares of Molson Coors Beverage Company (NYSE:TAP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,923 shares of the company’s stock, valued at approximately $787,000.

Several other institutional investors have also modified their holdings of TAP. Geode Capital Management LLC raised its position in shares of Molson Coors Beverage by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company’s stock valued at $245,308,000 after purchasing an additional 54,867 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Molson Coors Beverage by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock valued at $251,442,000 after acquiring an additional 595,203 shares in the last quarter. Invesco Ltd. boosted its stake in Molson Coors Beverage by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company’s stock valued at $217,200,000 after acquiring an additional 152,622 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Molson Coors Beverage by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company’s stock worth $215,146,000 after acquiring an additional 422,515 shares in the last quarter. Finally, Norges Bank acquired a new position in Molson Coors Beverage during the 4th quarter worth $142,407,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TAP. Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Barclays cut their price objective on Molson Coors Beverage from $57.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. Citigroup decreased their target price on Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price objective for the company. Finally, Wells Fargo & Company dropped their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, June 25th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.26.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $51.16 on Monday. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 2.84 and a beta of 0.69. The company’s fifty day moving average is $50.93 and its 200-day moving average is $55.49. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. Equities analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage’s dividend payout ratio is 37.83%.

Insider Activity

In related news, Director Geoffrey E. Molson sold 1,333 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the transaction, the director directly owned 27,595 shares in the company, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.71% of the company’s stock.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.