South Dakota Investment Council raised its holdings in Molson Coors Beverage Company (NYSE:TAP – Free Report) by 43.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,978 shares of the company’s stock after purchasing an additional 38,200 shares during the period. South Dakota Investment Council owned approximately 0.07% of Molson Coors Beverage worth $5,425,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Caxton Associates LLP bought a new stake in shares of Molson Coors Beverage in the first quarter valued at approximately $202,000. United Services Automobile Association bought a new position in Molson Coors Beverage during the 1st quarter worth $215,000. Woodline Partners LP raised its holdings in Molson Coors Beverage by 38.7% in the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after acquiring an additional 4,056 shares in the last quarter. Geneos Wealth Management Inc. raised 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 valued at $49,000 after acquiring an additional 198 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Molson Coors Beverage by 4.7% during the 2nd quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock valued at $19,889,000 after acquiring an additional 18,566 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.
Molson Coors Beverage Price Performance
Shares of TAP opened at $41.53 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 simple moving average of $40.24 and a two-hundred day simple moving average of $43.92. 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 $7.79 billion, a PE ratio of -3.90 and a beta of 0.42.
Molson Coors Beverage Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 28th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Friday, August 28th. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.
Insider Transactions at Molson Coors Beverage
In related news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage 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 sale, the director directly owned 9,871 shares in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.27% of the stock is currently owned by company insiders.
Analyst Ratings Changes
TAP has been the topic of a number of analyst reports. TD Cowen upgraded shares of Molson Coors Beverage to a “hold” rating in a research note on Friday, June 26th. Evercore cut their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, July 22nd. Barclays decreased their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, May 1st. Finally, Sanford C. Bernstein cut their target price 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. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $44.00.
Check Out Our Latest Report on Molson Coors Beverage
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.
Featured Stories
- Five stocks we like better than Molson Coors Beverage
- Microsoft Just Flipped the AI Spending Narrative Overnight
- Qualcomm’s Turnaround Is Working, So Why Is Wall Street Selling?
- Meta’s Earnings Show Why Wall Street Is Losing Patience With AI Spending
- Can Starbucks Keep This Turnaround Going? The Latest Results Say Yes
Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage Company (NYSE:TAP – Free Report).
Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.
