Molson Coors Beverage Company $TAP Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,712,596 shares of the company’s stock after selling 412,064 shares during the period. Bank of New York Mellon Corp owned 1.88% of Molson Coors Beverage worth $167,995,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Root Financial Partners LLC purchased a new position in Molson Coors Beverage during the third quarter worth approximately $25,000. Clearstead Trust LLC raised its holdings in shares of Molson Coors Beverage by 952.8% during the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock worth $27,000 after acquiring an additional 505 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after purchasing an additional 221 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of 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 buying an additional 198 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Molson Coors Beverage by 175.7% during the 3rd quarter. Versant Capital Management Inc now owns 1,202 shares of the company’s stock worth $54,000 after buying an additional 766 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Molson Coors Beverage

In other news, Director David S. Coors purchased 2,245 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average price of $44.47 per share, for a total transaction of $99,835.15. Following the completion of the purchase, the director directly owned 30,586 shares of the company’s stock, valued at $1,360,159.42. The trade was a 7.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew Thomas Molson acquired 7,500 shares of the company’s stock in a transaction on Monday, November 10th. The stock was purchased at an average cost of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the transaction, the director owned 22,654 shares in the company, valued at approximately $1,059,980.66. The trade was a 49.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 2.71% of the company’s stock.

Molson Coors Beverage Trading Up 0.9%

Shares of TAP stock opened at $48.01 on Friday. Molson Coors Beverage Company has a fifty-two week low of $42.94 and a fifty-two week high of $64.66. The company has a 50 day moving average price of $47.44 and a 200 day moving average price of $47.75. The stock has a market capitalization of $9.49 billion, a P/E ratio of -4.50 and a beta of 0.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.45 and a current ratio of 0.60.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a negative net margin of 15.89% and a positive return on equity of 8.78%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Equities research analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.9%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -17.60%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Roth Mkm reiterated a “buy” rating and issued a $65.00 price objective (down from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th. Evercore ISI lowered their price target on Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. UBS Group boosted their price objective on shares of Molson Coors Beverage from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Jefferies Financial Group lowered their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating for the company in a research note on Tuesday, November 4th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $50.00 price objective (down from $53.00) on shares of Molson Coors Beverage in a report on Wednesday, November 19th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $53.18.

Molson Coors Beverage 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.