Gateway Investment Advisers LLC Buys 19,586 Shares of Molson Coors Beverage Company $TAP

Gateway Investment Advisers LLC increased its stake in Molson Coors Beverage Company (NYSE:TAP) by 223.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 28,359 shares of the company’s stock after acquiring an additional 19,586 shares during the period. Gateway Investment Advisers LLC’s holdings in Molson Coors Beverage were worth $1,324,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TAP. Capital Management Corp VA grew its holdings in Molson Coors Beverage by 38.4% during the 3rd quarter. Capital Management Corp VA now owns 139,657 shares of the company’s stock worth $6,319,000 after acquiring an additional 38,754 shares during the period. Mediolanum International Funds Ltd acquired a new stake in Molson Coors Beverage during the 3rd quarter worth $1,517,000. Skylands Capital LLC grew its holdings in Molson Coors Beverage by 63.9% during the 3rd quarter. Skylands Capital LLC now owns 180,650 shares of the company’s stock worth $8,174,000 after acquiring an additional 70,440 shares during the period. Rakuten Investment Management Inc. acquired a new stake in Molson Coors Beverage during the 3rd quarter worth $3,004,000. Finally, Fairfax Financial Holdings Ltd. Can grew its holdings in Molson Coors Beverage by 5.9% during the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 1,290,071 shares of the company’s stock worth $58,363,000 after acquiring an additional 71,571 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on TAP shares. TD Cowen lowered their target price on shares of Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating for the company in a report on Friday, February 20th. Wall Street Zen raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Roth Mkm set a $58.00 target price on shares of Molson Coors Beverage in a report on Thursday, February 19th. Finally, Jefferies Financial Group lowered their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “hold” rating for the company in a report on Monday, April 20th. Four research 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 MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $45.71.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $42.40 on Friday. Molson Coors Beverage Company has a 12-month low of $40.64 and a 12-month high of $57.57. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of -3.98 and a beta of 0.44. 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 firm has a fifty day moving average of $44.04 and a 200-day moving average of $46.33.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Molson Coors Beverage Company will post 4.74 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.5%. Molson Coors Beverage’s payout ratio is -18.05%.

Insider Activity

In other news, Director Andrew Thomas Molson purchased 2,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $46.67 per share, with a total value of $93,340.00. Following the acquisition, the director directly owned 24,654 shares of the company’s stock, valued at approximately $1,150,602.18. This represents a 8.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.27% of the stock is owned by company insiders.

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.