Healthcare of Ontario Pension Plan Trust Fund Cuts Position in Molson Coors Beverage Company $TAP

Healthcare of Ontario Pension Plan Trust Fund decreased its position in Molson Coors Beverage Company (NYSE:TAP) by 98.8% during the first quarter, HoldingsChannel.com reports. The fund owned 10,638 shares of the company’s stock after selling 890,054 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Molson Coors Beverage were worth $458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. increased its position in 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 bought a new position in Molson Coors Beverage during the fourth quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake 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 buying an additional 221 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Molson Coors Beverage by 551.1% in the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after buying an additional 518 shares in the last quarter. Finally, Clearstead Advisors LLC increased its holdings in shares of Molson Coors Beverage by 223.0% in the 4th quarter. Clearstead Advisors LLC now owns 659 shares of the company’s stock worth $31,000 after buying an additional 455 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TAP has been the subject of several recent research reports. UBS Group dropped their price target on Molson Coors Beverage from $46.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. Sanford C. Bernstein lowered their price objective on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, May 26th. BNP Paribas Exane dropped their target price on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a report on Wednesday, June 3rd. Wells Fargo & Company cut their target price on Molson Coors Beverage from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Finally, TD Cowen upgraded Molson Coors Beverage to a “hold” rating in a research report on Friday, June 26th. 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 stock has an average rating of “Hold” and a consensus target price of $44.00.

Insider Transactions at Molson Coors Beverage

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

Molson Coors Beverage Stock Up 0.2%

NYSE:TAP opened at $41.63 on Monday. Molson Coors Beverage Company has a twelve month low of $38.04 and a twelve month high of $54.82. The company has a market cap of $7.81 billion, a price-to-earnings ratio of -3.91 and a beta of 0.42. The stock has a fifty day simple moving average of $40.23 and a 200-day simple moving average of $43.87. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38.

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, beating analysts’ consensus estimates of $0.36 by $0.26. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates 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 was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. Analysts anticipate that Molson Coors Beverage Company will post 4.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

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

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.