Summitry LLC Makes New Investment in Molson Coors Beverage Company $TAP

Summitry LLC acquired a new position in shares of Molson Coors Beverage Company (NYSE:TAP) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 13,656 shares of the company’s stock, valued at approximately $637,000.

Several other large investors also recently bought and sold shares of the company. Dodge & Cox increased 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 worth $843,063,000 after buying an additional 4,235,029 shares in the last quarter. State Street Corp grew its position in shares of Molson Coors Beverage by 19.2% in the third 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 in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Molson Coors Beverage by 22.9% in the third 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 in the last quarter. Royal London Asset Management Ltd. grew its position in shares of Molson Coors Beverage by 317.9% in the second 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 in the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Molson Coors Beverage by 21.2% in the third 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 in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the firm’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 transaction, the director directly owned 9,871 shares in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew Thomas Molson purchased 2,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 24,654 shares of the company’s stock, valued at approximately $1,150,602.18. This trade represents a 8.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.27% of the company’s stock.

Wall Street Analyst Weigh In

TAP has been the topic of a number of analyst reports. Roth Mkm set a $58.00 price objective on Molson Coors Beverage in a research report on Thursday, February 19th. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. UBS Group reduced their price objective on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research report on Friday, May 1st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.59.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $42.52 on Tuesday. The company’s 50 day simple moving average is $42.83 and its 200-day simple moving average is $46.07. The company has a market capitalization of $7.97 billion, a price-to-earnings ratio of -4.00 and a beta of 0.44. Molson Coors Beverage Company has a 1 year low of $40.64 and a 1 year high of $54.82. 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 (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 analysts’ consensus estimates of $0.36 by $0.26. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate 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 was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. As a group, equities research analysts expect that Molson Coors Beverage Company will post 4.74 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -18.05%.

Molson Coors Beverage Company 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.