Geode Capital Management LLC Sells 30,007 Shares of Molson Coors Beverage Company $TAP

Geode Capital Management LLC decreased its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 4,477,094 shares of the company’s stock after selling 30,007 shares during the quarter. Geode Capital Management LLC’s holdings in Molson Coors Beverage were worth $208,625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Employees Retirement System of Texas bought a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $88,000. Integrity Alliance LLC. purchased a new stake in shares of Molson Coors Beverage in the 4th quarter worth approximately $411,000. Ceera Investments LLC boosted its stake in Molson Coors Beverage by 19.4% during the 4th quarter. Ceera Investments LLC now owns 21,380 shares of the company’s stock valued at $998,000 after purchasing an additional 3,480 shares during the last quarter. Allstate Corp boosted its stake in Molson Coors Beverage by 91.7% during the 4th quarter. Allstate Corp now owns 9,571 shares of the company’s stock valued at $447,000 after purchasing an additional 4,578 shares during the last quarter. Finally, Summitry LLC purchased a new stake in Molson Coors Beverage during the 4th quarter valued at $637,000. Institutional investors own 78.46% of the company’s stock.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, Director Andrew Thomas Molson bought 2,000 shares of the company’s stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $46.67 per share, for a total transaction of $93,340.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction that occurred on 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 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 disclosure for this sale is available in the SEC filing. 2.27% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TAP shares. The Goldman Sachs Group increased their price target on Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Piper Sandler lowered their target price on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $42.00 price target on shares of Molson Coors Beverage in a report on Friday, May 1st. Jefferies Financial Group decreased their price target on Molson Coors Beverage from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Monday, April 20th. Finally, Roth Mkm set a $58.00 target price on Molson Coors Beverage in a report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.29.

Molson Coors Beverage Trading Down 0.2%

TAP opened at $38.94 on Wednesday. The firm has a market cap of $7.30 billion, a P/E ratio of -3.66 and a beta of 0.41. Molson Coors Beverage Company has a 12 month low of $38.67 and a 12 month high of $54.82. 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 50-day moving average of $42.62 and a 200 day moving average of $45.88.

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

Molson Coors Beverage Dividend Announcement

The firm 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 dividend yield of 4.9%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage’s payout ratio is -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.