Delta Global Management LP Makes New Investment in Molson Coors Beverage Company $TAP

Delta Global Management LP bought a new position in shares of Molson Coors Beverage Company (NYSE:TAP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 50,564 shares of the company’s stock, valued at approximately $2,360,000.

Other institutional investors have also recently bought and sold shares of the company. Dodge & Cox increased its stake in shares of Molson Coors Beverage by 29.4% in the third quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock valued at $843,063,000 after buying an additional 4,235,029 shares during the period. Norges Bank acquired a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $125,755,000. Goldman Sachs Group Inc. increased its stake in shares of Molson Coors Beverage by 265.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock valued at $136,400,000 after buying an additional 2,122,085 shares during the period. State Street Corp increased its stake 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 buying an additional 1,693,682 shares during the period. Finally, Royal London Asset Management Ltd. increased its stake 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 buying an additional 1,554,851 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Insiders Place Their Bets

In other Molson Coors Beverage 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 transaction, the director directly owned 9,871 shares in the company, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TAP. The Goldman Sachs Group increased their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. 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. TD Cowen decreased their target price on shares of Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Friday, March 27th. Finally, 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. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $44.88.

Molson Coors Beverage Price Performance

Shares of TAP opened at $40.86 on Tuesday. Molson Coors Beverage Company has a 12-month low of $38.04 and a 12-month high of $54.82. The business’s fifty day moving average is $42.13 and its 200 day moving average is $45.45. 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 stock has a market cap of $7.66 billion, a P/E ratio of -3.84 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business earned $0.50 EPS. Molson Coors Beverage’s quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Molson Coors Beverage Company will post 4.8 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 4.7%. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.

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.