Vise Technologies Inc. Raises Position in Molson Coors Beverage Company $TAP

Vise Technologies Inc. raised its stake in Molson Coors Beverage Company (NYSE:TAP) by 365.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 23,820 shares of the company’s stock after buying an additional 18,697 shares during the quarter. Vise Technologies Inc.’s holdings in Molson Coors Beverage were worth $1,112,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TAP. GoalVest Advisory LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. raised its stake in shares of Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after purchasing an additional 244 shares during the last quarter. Basepoint Wealth LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its stake in shares of Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Molson Coors Beverage by 551.1% in the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after purchasing an additional 518 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the 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 of the company’s stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $39.62 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of -3.72 and a beta of 0.41. The stock has a 50 day moving average of $42.36 and a 200 day moving average of $45.62. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS 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 the consensus estimate 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 period last year, the business posted $0.50 earnings per share. As a group, sell-side analysts forecast that Molson Coors Beverage Company will post 4.74 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -18.05%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TAP. TD Cowen lowered their price objective on Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, February 20th. The Goldman Sachs Group increased their price objective on Molson Coors Beverage from $48.00 to $50.00 in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $42.00 price objective on shares of Molson Coors Beverage in a research note on Friday, May 1st. Piper Sandler decreased their price target on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, February 19th. Finally, Morgan Stanley decreased their price target on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. 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, the stock has an average rating of “Hold” and a consensus price target of $45.00.

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.