Goldman Sachs Group Inc. Raises Stock Holdings in Molson Coors Beverage Company $TAP

Goldman Sachs Group Inc. lifted its holdings in Molson Coors Beverage Company (NYSE:TAP) by 265.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,922,022 shares of the company’s stock after buying an additional 2,122,085 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.48% of Molson Coors Beverage worth $136,400,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TAP. Caxton Associates LLP purchased a new stake in shares of Molson Coors Beverage in the first quarter worth approximately $202,000. United Services Automobile Association purchased a new stake in shares of Molson Coors Beverage in the first quarter worth approximately $215,000. Woodline Partners LP raised its holdings in shares of Molson Coors Beverage by 38.7% in the first quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock worth $885,000 after buying an additional 4,056 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after buying an additional 198 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Molson Coors Beverage by 4.7% in the second quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock worth $19,889,000 after buying an additional 18,566 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Up 1.4%

Shares of NYSE TAP opened at $39.62 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $7.43 billion, a PE ratio of -3.72 and a beta of 0.41. The stock’s fifty day simple moving average is $42.36 and its two-hundred day simple moving average is $45.62. Molson Coors Beverage Company has a 12-month low of $38.04 and a 12-month high of $54.82.

Molson Coors Beverage (NYSE:TAP) last announced its 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 business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.50 EPS. As a group, analysts expect that Molson Coors Beverage Company will post 4.74 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TAP. Needham & Company LLC reduced their price target on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Piper Sandler reduced their price objective on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, February 19th. Wall Street Zen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, May 26th. Finally, Morgan Stanley reduced their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.00.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage 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 transaction of $52,912.50. Following the sale, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.27% of the company’s stock.

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.