South Dakota Investment Council Buys 38,200 Shares of Molson Coors Beverage Company $TAP

South Dakota Investment Council boosted its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 43.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,978 shares of the company’s stock after buying an additional 38,200 shares during the quarter. South Dakota Investment Council’s holdings in Molson Coors Beverage were worth $5,425,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its stake in shares of Molson Coors Beverage by 32.9% in the first 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. UMB Bank n.a. lifted its stake in shares of Molson Coors Beverage by 16.5% in the fourth quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock worth $68,000 after acquiring an additional 208 shares during the period. New York Life Investment Management LLC lifted its stake in shares of Molson Coors Beverage by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock worth $1,069,000 after acquiring an additional 210 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after acquiring an additional 244 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Insider Activity

In related news, Director Geoffrey E. Molson sold 1,245 shares of the business’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 transaction, the director owned 9,871 shares in the company, valued at $419,517.50. The trade was a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.27% of the stock is owned by insiders.

Molson Coors Beverage Trading Down 2.9%

Shares of TAP stock opened at $41.53 on Friday. The company has a market cap of $7.79 billion, a P/E ratio of -3.90 and a beta of 0.42. The stock has a 50 day simple moving average of $40.24 and a two-hundred day simple moving average of $43.92. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. Molson Coors Beverage Company has a fifty-two week low of $38.04 and a fifty-two week high of $54.82.

Molson Coors Beverage (NYSE:TAP) last issued 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 positive return on equity of 9.79% and a negative net margin of 16.14%.The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. Research analysts forecast that Molson Coors Beverage Company will post 4.78 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 28th will be paid a $0.48 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.92 annualized dividend and a dividend yield of 4.6%. Molson Coors Beverage’s payout ratio is currently -18.05%.

Analysts Set New Price Targets

A number of research firms have weighed in on TAP. Jefferies Financial Group decreased their target price on shares of Molson Coors Beverage from $43.00 to $41.00 in a research report on Friday, June 12th. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Molson Coors Beverage in a research note on Wednesday, July 22nd. Finally, 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 on the stock in a report on Tuesday, May 26th. Four equities research 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.00.

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.