33,145 Shares in Molson Coors Beverage Company $TAP Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd bought a new stake in Molson Coors Beverage Company (NYSE:TAP) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 33,145 shares of the company’s stock, valued at approximately $1,517,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TAP. Polianta Ltd purchased a new position in Molson Coors Beverage during the third quarter worth approximately $1,543,000. JPMorgan Chase & Co. grew its stake in shares of Molson Coors Beverage by 20.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,036,110 shares of the company’s stock valued at $49,828,000 after buying an additional 175,587 shares during the period. Swiss National Bank increased its holdings in shares of Molson Coors Beverage by 5.5% during the 2nd quarter. Swiss National Bank now owns 537,600 shares of the company’s stock worth $25,853,000 after buying an additional 27,900 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Molson Coors Beverage by 182.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 84,290 shares of the company’s stock worth $4,054,000 after buying an additional 54,410 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Molson Coors Beverage by 2,106.2% in the 2nd quarter. Mackenzie Financial Corp now owns 471,899 shares of the company’s stock worth $22,694,000 after buying an additional 450,509 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. initiated coverage on Molson Coors Beverage in a research note on Wednesday, November 5th. They set a “neutral” rating and a $49.00 price target for the company. Sanford C. Bernstein decreased their target price on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, November 5th. Piper Sandler dropped their target price on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Jefferies Financial Group cut their price target on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Finally, Exane BNP Paribas cut shares of Molson Coors Beverage from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average target price of $53.18.

Molson Coors Beverage Stock Up 1.9%

Shares of NYSE:TAP opened at $49.33 on Wednesday. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of -4.62 and a beta of 0.48. The company has a 50 day moving average of $47.55 and a two-hundred day moving average of $47.71. Molson Coors Beverage Company has a 52-week low of $42.94 and a 52-week high of $64.66. The company has a quick ratio of 0.45, a current ratio of 0.60 and a debt-to-equity ratio of 0.37.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.05). The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a negative net margin of 15.89% and a positive return on equity of 8.78%. As a group, analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, December 5th. This represents a $1.88 annualized dividend and a dividend yield of 3.8%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -17.60%.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Andrew Thomas Molson bought 7,500 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of $46.79 per share, with a total value of $350,925.00. Following the completion of the transaction, the director owned 22,654 shares in the company, valued at $1,059,980.66. The trade was a 49.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.71% of the stock is owned by corporate insiders.

Molson Coors Beverage Company 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.