SummitTX Capital L.P. Buys 79,658 Shares of Molson Coors Beverage Company $TAP

SummitTX Capital L.P. lifted its stake in Molson Coors Beverage Company (NYSE:TAP) by 744.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,355 shares of the company’s stock after buying an additional 79,658 shares during the quarter. SummitTX Capital L.P.’s holdings in Molson Coors Beverage were worth $3,891,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. boosted its holdings in shares of Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after purchasing an additional 244 shares during the last quarter. Basepoint Wealth LLC purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its holdings in shares of Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after purchasing an additional 221 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Molson Coors Beverage by 551.1% in the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after buying an additional 518 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its position in shares of Molson Coors Beverage by 223.0% in 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. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on TAP. Morgan Stanley cut their price target on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. BNP Paribas Exane decreased their price objective on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a report on Wednesday, June 3rd. The Goldman Sachs Group increased their target price on Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Wednesday, June 24th. Finally, Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.00.

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 stock was 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 represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.27% of the stock is owned by company insiders.

Molson Coors Beverage Price Performance

Shares of TAP opened at $41.17 on Tuesday. The company has a 50 day moving average price of $40.25 and a 200-day moving average price of $44.02. 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 stock has a market capitalization of $7.72 billion, a PE ratio of -3.87 and a beta of 0.42. Molson Coors Beverage Company has a fifty-two week low of $38.04 and a fifty-two week high of $54.82.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data 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 positive return on equity of 9.79% and a negative net margin of 16.14%.The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts predict that Molson Coors Beverage Company will post 4.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

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.