Sei Investments Co. Acquires 55,410 Shares of Molson Coors Beverage Company $TAP

Sei Investments Co. grew its stake in Molson Coors Beverage Company (NYSE:TAP) by 27.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 259,989 shares of the company’s stock after purchasing an additional 55,410 shares during the quarter. Sei Investments Co.’s holdings in Molson Coors Beverage were worth $11,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TAP. SBI Securities Co. Ltd. grew its stake 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 in the last quarter. Basepoint Wealth LLC acquired a new position in Molson Coors Beverage during the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its holdings in Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after buying an additional 221 shares during the last quarter. Larson Financial Group LLC raised its position in Molson Coors Beverage by 551.1% during the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after acquiring an additional 518 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its stake in Molson Coors Beverage by 223.0% in the fourth quarter. Clearstead Advisors LLC now owns 659 shares of the company’s stock valued at $31,000 after acquiring an additional 455 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 1st. TD Cowen upgraded Molson Coors Beverage to a “hold” rating in a research note on Friday, June 26th. Evercore reduced their target price on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Wells Fargo & Company decreased their target price on Molson Coors Beverage from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Finally, Jefferies Financial Group cut their price target on Molson Coors Beverage from $43.00 to $41.00 in a report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.00.

Molson Coors Beverage Trading Up 0.2%

Shares of NYSE:TAP opened at $41.63 on Friday. Molson Coors Beverage Company has a 12-month low of $38.04 and a 12-month high of $54.82. The business has a 50 day moving average of $40.23 and a 200-day moving average of $43.90. 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 $7.81 billion, a PE ratio of -3.91 and a beta of 0.42.

Molson Coors Beverage (NYSE:TAP) last announced its 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 for 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%.The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. As a group, equities research analysts forecast that Molson Coors Beverage Company will post 4.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 28th will be given a $0.48 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.92 annualized dividend and a dividend yield of 4.6%. Molson Coors Beverage’s payout ratio is presently -18.05%.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction that occurred 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 owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.27% of the company’s stock.

About Molson Coors Beverage

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.