Legal & General Group Plc Has $21.28 Million Stake in Molson Coors Beverage Company $TAP

Legal & General Group Plc reduced its stake in Molson Coors Beverage Company (NYSE:TAP) by 44.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 455,884 shares of the company’s stock after selling 361,674 shares during the period. Legal & General Group Plc’s holdings in Molson Coors Beverage were worth $21,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. GoalVest Advisory LLC acquired a new position in Molson Coors Beverage during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. grew its holdings 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 worth $25,000 after purchasing an additional 244 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after buying an additional 221 shares during the period. Larson Financial Group LLC raised its holdings in Molson Coors Beverage by 551.1% in the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock valued at $29,000 after buying an additional 518 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in Molson Coors Beverage by 134.2% in the 3rd quarter. IFP Advisors Inc now owns 787 shares of the company’s stock valued at $38,000 after buying an additional 451 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In related news, Director Andrew Thomas Molson purchased 2,000 shares of Molson Coors Beverage stock in a transaction on Monday, March 9th. The stock was acquired at an average cost of $46.67 per share, for a total transaction of $93,340.00. Following the completion of the acquisition, the director owned 24,654 shares of the company’s stock, valued at $1,150,602.18. This trade represents a 8.83% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction 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 completion of the sale, the director directly owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.27% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. Sanford C. Bernstein lowered 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 report on Tuesday, May 26th. Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Piper Sandler decreased their price target on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, February 19th. Finally, Bank of America downgraded Molson Coors Beverage from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $50.00 to $42.00 in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.29.

Molson Coors Beverage Trading Down 0.1%

NYSE TAP opened at $39.49 on Monday. The stock has a market capitalization of $7.41 billion, a P/E ratio of -3.71 and a beta of 0.41. The business has a 50 day simple moving average of $42.68 and a 200 day simple moving average of $45.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. Molson Coors Beverage Company has a one year low of $39.39 and a one year high of $54.82.

Molson Coors Beverage (NYSE:TAP) last issued 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. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. Research analysts expect that Molson Coors Beverage Company will post 4.74 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 4.9%. Molson Coors Beverage’s dividend payout ratio is currently -18.05%.

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.