Financial Solutions Advisory Group Inc. Invests $1.09 Million in Molson Coors Beverage Company $TAP

Financial Solutions Advisory Group Inc. purchased a new stake in shares of Molson Coors Beverage Company (NYSE:TAP) during the 1st quarter, Holdings Channel.com reports. The fund purchased 25,216 shares of the company’s stock, valued at approximately $1,086,000.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. lifted its holdings in Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Molson Coors Beverage by 16.5% in the 4th quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock worth $68,000 after buying an additional 208 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Molson Coors Beverage by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock valued at $1,069,000 after acquiring an additional 210 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Molson Coors Beverage by 64.2% in 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, SBI Securities Co. Ltd. boosted its stake in Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after buying an additional 244 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Up 0.2%

Shares of NYSE:TAP opened at $41.63 on Friday. The business’s 50-day moving average is $40.23 and its 200 day moving average is $43.90. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. Molson Coors Beverage Company has a 1 year low of $38.04 and a 1 year high of $54.82. The firm has a market capitalization of $7.81 billion, a P/E ratio of -3.91 and a beta of 0.42.

Molson Coors Beverage (NYSE:TAP) last posted 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 business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. On average, research analysts predict that Molson Coors Beverage Company will post 4.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

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

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the sale, the director owned 9,871 shares in the company, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TAP. Wall Street Zen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. The Goldman Sachs Group boosted their price objective on Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $41.00 target price on Molson Coors Beverage in a research note on Wednesday, July 22nd. Evercore decreased their target price 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. Finally, UBS Group lowered their target price on shares of Molson Coors Beverage from $46.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

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.