Syon Capital LLC Makes New Investment in Molson Coors Beverage Company $TAP

Syon Capital LLC purchased a new position in shares of Molson Coors Beverage Company (NYSE:TAP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,446 shares of the company’s stock, valued at approximately $861,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Skylands Capital LLC grew its holdings in Molson Coors Beverage by 63.9% during the 3rd quarter. Skylands Capital LLC now owns 180,650 shares of the company’s stock worth $8,174,000 after acquiring an additional 70,440 shares in the last quarter. Fairfax Financial Holdings Ltd. Can grew its holdings in Molson Coors Beverage by 5.9% during the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 1,290,071 shares of the company’s stock worth $58,363,000 after acquiring an additional 71,571 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Molson Coors Beverage during the 3rd quarter worth approximately $8,365,000. Citigroup Inc. grew its holdings in Molson Coors Beverage by 148.5% during the 3rd quarter. Citigroup Inc. now owns 1,364,241 shares of the company’s stock worth $61,732,000 after acquiring an additional 815,348 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in Molson Coors Beverage by 1,879.2% during the 3rd quarter. Alps Advisors Inc. now owns 121,204 shares of the company’s stock worth $5,484,000 after acquiring an additional 115,080 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction 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 completion of the sale, the director owned 9,871 shares in the company, valued at $419,517.50. This represents a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.27% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on TAP. Wells Fargo & Company lowered their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Roth Mkm set a $58.00 target price on shares of Molson Coors Beverage in a report on Thursday, February 19th. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, April 27th. Piper Sandler lowered their target price on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. Finally, Zacks Research upgraded shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $45.00.

Molson Coors Beverage Trading Up 2.3%

Shares of Molson Coors Beverage stock opened at $40.51 on Wednesday. The company has a fifty day simple moving average of $42.30 and a 200-day simple moving average of $45.59. Molson Coors Beverage Company has a 12-month low of $38.04 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 market cap of $7.60 billion, a price-to-earnings ratio of -3.81 and a beta of 0.41.

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

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a $0.48 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 4.7%. Molson Coors Beverage’s dividend payout ratio is -18.05%.

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.