Weiss Asset Management LP Invests $20.35 Million in Molson Coors Beverage Company $TAP

Weiss Asset Management LP bought a new stake in Molson Coors Beverage Company (NYSE:TAP) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 472,592 shares of the company’s stock, valued at approximately $20,350,000.

Other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its holdings in Molson Coors Beverage by 84.1% during the 4th 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. Basepoint Wealth LLC acquired a new position in Molson Coors Beverage in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC increased its position in Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after buying an additional 221 shares during the period. Larson Financial Group LLC increased its position in Molson Coors Beverage by 551.1% during the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after buying an additional 518 shares during the period. Finally, Clearstead Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 223.0% during the fourth quarter. Clearstead Advisors LLC now owns 659 shares of the company’s stock worth $31,000 after buying an additional 455 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TAP. BNP Paribas Exane reduced their target price on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a research report on Wednesday, June 3rd. UBS Group lowered their price target on shares of Molson Coors Beverage from $46.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Jefferies Financial Group dropped their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 in a research note on Friday, June 12th. Sanford C. Bernstein decreased their target price on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 26th. Finally, Citigroup lowered their target price on shares of Molson Coors Beverage from $47.00 to $42.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.00.

Molson Coors Beverage Stock Performance

TAP opened at $40.98 on Friday. The firm has a market cap of $7.69 billion, a P/E ratio of -3.85 and a beta of 0.42. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The business’s fifty day moving average is $40.26 and its 200-day moving average is $44.07.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. The company 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%.Molson Coors Beverage’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. Sell-side analysts expect that Molson Coors Beverage Company will post 4.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 28th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Friday, August 28th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -18.05%.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the transaction, the director directly owned 9,871 shares of the company’s stock, 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 can be accessed through the SEC website. 2.27% of the stock is currently owned by corporate 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.