Corient Private Wealth LLC Buys 23,953 Shares of Molson Coors Beverage Company $TAP

Corient Private Wealth LLC boosted its stake in Molson Coors Beverage Company (NYSE:TAP) by 27.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,700 shares of the company’s stock after purchasing an additional 23,953 shares during the quarter. Corient Private Wealth LLC’s holdings in Molson Coors Beverage were worth $5,168,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TAP. Caitong International Asset Management Co. Ltd lifted its stake in shares of Molson Coors Beverage by 254.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,580 shares of the company’s stock valued at $214,000 after buying an additional 3,287 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Molson Coors Beverage by 3,664.4% during the 4th quarter. Pacer Advisors Inc. now owns 908,166 shares of the company’s stock valued at $42,393,000 after purchasing an additional 884,041 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in Molson Coors Beverage during the 4th quarter worth approximately $229,000. Virtu Financial LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth approximately $958,000. Finally, Invesco Ltd. lifted its holdings in shares of Molson Coors Beverage by 1.2% in the fourth quarter. Invesco Ltd. now owns 4,485,000 shares of the company’s stock valued at $209,360,000 after purchasing an additional 54,456 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage 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 completion of the sale, the director directly owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $41.44 on Friday. The stock has a market cap of $7.77 billion, a P/E ratio of -3.89 and a beta of 0.41. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The business’s 50-day moving average price is $41.34 and its two-hundred day moving average price is $45.06. Molson Coors Beverage Company has a twelve month low of $38.04 and a twelve month high of $54.82.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.36 by $0.26. The company had revenue of $2.35 billion during 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%.Molson Coors Beverage’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, equities analysts predict that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $0.48 per share. The ex-dividend date was Friday, May 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.6%. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TAP shares. Sanford C. Bernstein cut their target price on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 26th. Barclays lowered their price target on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. BNP Paribas Exane reduced their target price on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a research note on Wednesday, June 3rd. Finally, Jefferies Financial Group reduced their target price on shares of Molson Coors Beverage from $43.00 to $41.00 in a research note on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.88.

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.