Molson Coors Beverage Company $TAP Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN grew its holdings in Molson Coors Beverage Company (NYSE:TAP) by 39.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,430 shares of the company’s stock after acquiring an additional 68,235 shares during the period. OLD National Bancorp IN’s holdings in Molson Coors Beverage were worth $10,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. GoalVest Advisory LLC purchased a new position in shares of Molson Coors Beverage during the fourth quarter worth $25,000. SBI Securities Co. Ltd. boosted its holdings in Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after purchasing an additional 244 shares during the last quarter. Basepoint Wealth LLC purchased a new stake in Molson Coors Beverage in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC grew its position in Molson Coors Beverage by 64.2% during the 2nd 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 period. Finally, Larson Financial Group LLC grew its position in Molson Coors Beverage by 551.1% during the 4th 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 period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $40.45 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. Molson Coors Beverage Company has a 52 week low of $38.04 and a 52 week high of $54.82. The stock’s 50-day moving average price is $41.39 and its 200-day moving average price is $45.08. The stock has a market capitalization of $7.59 billion, a PE ratio of -3.80 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results 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. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. As a group, equities analysts expect that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TAP shares. Wells Fargo & Company decreased their price objective on Molson Coors Beverage from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Zacks Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Evercore reduced their price target on 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. Sanford C. Bernstein decreased their price target on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lowered their price objective on Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, April 27th. Four 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $44.88.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction that occurred 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 owned 9,871 shares in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.27% of the stock is currently owned by insiders.

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.