Gamco Investors INC. ET AL Has $4.33 Million Stock Position in Molson Coors Beverage Company $TAP

Gamco Investors INC. ET AL increased its holdings in Molson Coors Beverage Company (NYSE:TAP) by 21.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,608 shares of the company’s stock after acquiring an additional 17,650 shares during the period. Gamco Investors INC. ET AL owned about 0.05% of Molson Coors Beverage worth $4,332,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in Molson Coors Beverage by 19.2% during the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after acquiring an additional 1,693,682 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Molson Coors Beverage by 10.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company’s stock worth $360,117,000 after purchasing an additional 790,314 shares during the period. Invesco Ltd. boosted its holdings in shares of Molson Coors Beverage by 1.2% during the fourth quarter. Invesco Ltd. now owns 4,485,000 shares of the company’s stock worth $209,360,000 after purchasing an additional 54,456 shares during the period. Bank of New York Mellon Corp increased its stake in Molson Coors Beverage by 16.4% in the 1st quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company’s stock valued at $143,236,000 after buying an additional 469,607 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Molson Coors Beverage by 265.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock worth $136,400,000 after buying an additional 2,122,085 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TAP shares. Barclays dropped their price target on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $41.00 price objective on Molson Coors Beverage in a research report on Wednesday, July 22nd. Sanford C. Bernstein lowered their target price on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Wednesday, June 24th. Finally, Citigroup cut their price target on Molson Coors Beverage from $47.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $44.00.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $41.17 on Tuesday. The company’s fifty day moving average is $40.25 and its 200-day moving average is $44.02. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82. The firm has a market cap of $7.72 billion, a price-to-earnings ratio of -3.87 and a beta of 0.42. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. Molson Coors Beverage’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 EPS. Equities analysts expect that Molson Coors Beverage Company will post 4.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, August 28th. Molson Coors Beverage’s dividend payout ratio is -18.05%.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the transaction, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.27% of the company’s stock.

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.