Molson Coors Beverage Company (NYSE:TAP – Get Free Report) announced a quarterly dividend on Thursday, July 16th. Shareholders of record on Friday, August 28th will be paid a dividend of 0.48 per share on Friday, September 18th. This represents a c) dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, August 28th.
Molson Coors Beverage has raised its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Molson Coors Beverage has a payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Molson Coors Beverage to earn $5.00 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 38.4%.
Molson Coors Beverage Price Performance
Shares of TAP opened at $41.74 on Friday. Molson Coors Beverage has a 52-week low of $38.04 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The business’s 50 day moving average price is $40.32 and its two-hundred day moving average price is $44.30. The firm has a market cap of $7.83 billion, a PE ratio of -3.92 and a beta of 0.42.
Insider Transactions at Molson Coors Beverage
In related news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.27% of the company’s stock.
Hedge Funds Weigh In On Molson Coors Beverage
A number of hedge funds have recently bought and sold shares of TAP. GoalVest Advisory LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. lifted its position in shares of Molson Coors Beverage by 84.1% during 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 purchased a new position in Molson Coors Beverage during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC boosted 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 purchasing an additional 221 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings 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 purchasing an additional 518 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.
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.
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