Molson Coors Beverage Company $TAP Stock Position Reduced by Swedbank AB

Swedbank AB cut its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 24.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,522 shares of the company’s stock after selling 23,864 shares during the period. Swedbank AB’s holdings in Molson Coors Beverage were worth $3,479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Management Corp VA grew its position in Molson Coors Beverage by 38.4% during the third quarter. Capital Management Corp VA now owns 139,657 shares of the company’s stock valued at $6,319,000 after purchasing an additional 38,754 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in Molson Coors Beverage during the third quarter valued at approximately $1,517,000. Skylands Capital LLC grew its position in Molson Coors Beverage by 63.9% in the third quarter. Skylands Capital LLC now owns 180,650 shares of the company’s stock worth $8,174,000 after acquiring an additional 70,440 shares in the last quarter. Fairfax Financial Holdings Ltd. Can grew its position in Molson Coors Beverage by 5.9% in the third quarter. Fairfax Financial Holdings Ltd. Can now owns 1,290,071 shares of the company’s stock worth $58,363,000 after acquiring an additional 71,571 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Molson Coors Beverage in the third quarter worth approximately $8,365,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $41.87 on Thursday. The firm has a fifty day simple moving average of $42.77 and a 200-day simple moving average of $46.03. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. Molson Coors Beverage Company has a 1-year low of $40.64 and a 1-year high of $54.82. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of -3.94 and a beta of 0.44.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the company earned $0.50 earnings per share. Molson Coors Beverage’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts expect that Molson Coors Beverage Company will post 4.74 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed 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 4.6%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage’s payout ratio is presently -18.05%.

Insiders Place Their Bets

In other news, Director Andrew Thomas Molson acquired 2,000 shares of Molson Coors Beverage stock in a transaction dated Monday, March 9th. The stock was acquired at an average cost of $46.67 per share, for a total transaction of $93,340.00. Following the completion of the purchase, the director owned 24,654 shares of the company’s stock, valued at $1,150,602.18. This represents a 8.83% increase in their ownership of the stock. The acquisition 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 business’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 sale, the director owned 9,871 shares of the company’s stock, valued at $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on TAP shares. Wells Fargo & Company decreased their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Friday, March 27th. JPMorgan Chase & Co. decreased their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, April 27th. The Goldman Sachs Group boosted their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Finally, Evercore decreased their target price on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and a consensus price target of $45.29.

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.