Molson Coors Beverage Company $TAP Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 86.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,216 shares of the company’s stock after selling 53,800 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Molson Coors Beverage were worth $384,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TAP. Caxton Associates LLP purchased a new stake in shares of Molson Coors Beverage during the 1st quarter valued at $202,000. United Services Automobile Association purchased a new stake in shares of Molson Coors Beverage during the 1st quarter valued at $215,000. Woodline Partners LP grew its stake in shares of Molson Coors Beverage by 38.7% during the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after buying an additional 4,056 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after buying an additional 198 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Molson Coors Beverage by 4.7% during the 2nd quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock valued at $19,889,000 after buying an additional 18,566 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on TAP shares. Morgan Stanley lowered their price objective on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $42.00 price objective on shares of Molson Coors Beverage in a research report on Friday, May 1st. Bank of America cut Molson Coors Beverage from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $50.00 to $42.00 in a research note on Wednesday, February 25th. JPMorgan Chase & Co. reduced their price objective on Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, April 27th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.00.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the sale, the director owned 9,871 shares in the company, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Thomas Molson acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $46.67 per share, for a total transaction of $93,340.00. Following the purchase, the director owned 24,654 shares of the company’s stock, valued at $1,150,602.18. This trade represents a 8.83% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $39.10 on Friday. 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 firm has a 50-day moving average of $42.41 and a two-hundred day moving average of $45.67. The stock has a market cap of $7.33 billion, a P/E 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.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data 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. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS. On average, research analysts expect that Molson Coors Beverage Company will post 4.74 earnings per share for the current fiscal 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 paid a $0.48 dividend. 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 -18.05%.

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.