Northwest & Ethical Investments L.P. Raises Stock Holdings in Molson Coors Beverage Company $TAP

Northwest & Ethical Investments L.P. raised its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 91.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,922 shares of the company's stock after purchasing an additional 10,968 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Molson Coors Beverage were worth $1,102,000 at the end of the most recent quarter.

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A number of other institutional investors also recently made changes to their positions in TAP. Nuveen LLC bought a new position in Molson Coors Beverage during the 1st quarter valued at $22,253,000. Jump Financial LLC increased its position in shares of Molson Coors Beverage by 205.4% in the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company's stock worth $1,480,000 after purchasing an additional 16,349 shares during the last quarter. Signaturefd LLC raised its stake in shares of Molson Coors Beverage by 79.8% in the 2nd quarter. Signaturefd LLC now owns 2,861 shares of the company's stock valued at $138,000 after purchasing an additional 1,270 shares in the last quarter. Hsbc Holdings PLC raised its stake in shares of Molson Coors Beverage by 32.8% in the 1st quarter. Hsbc Holdings PLC now owns 466,666 shares of the company's stock valued at $28,424,000 after purchasing an additional 115,186 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Molson Coors Beverage by 81.9% during the second quarter. Nordea Investment Management AB now owns 674,214 shares of the company's stock worth $32,416,000 after purchasing an additional 303,602 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David S. Coors purchased 2,245 shares of the company's stock in a transaction on Wednesday, November 5th. The shares were bought at an average price of $44.47 per share, for a total transaction of $99,835.15. Following the completion of the purchase, the director owned 30,586 shares of the company's stock, valued at $1,360,159.42. This trade represents a 7.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew Thomas Molson acquired 7,500 shares of Molson Coors Beverage stock in a transaction dated Monday, November 10th. The shares were acquired at an average price 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 of the company's stock, valued at approximately $1,059,980.66. This trade represents a 49.49% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 2.71% of the company's stock.

Molson Coors Beverage Trading Up 0.6%

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Shares of NYSE TAP opened at $46.67 on Friday. Molson Coors Beverage Company has a 12-month low of $42.94 and a 12-month high of $64.66. The company has a market cap of $9.22 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The stock's 50 day simple moving average is $45.72 and its 200 day simple moving average is $49.03.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued 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 company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Equities research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

• Tap Into Molson Coors Stock: A Top Beverage Value Play

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be given a $0.47 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.88 annualized dividend and a yield of 4.0%. Molson Coors Beverage's dividend payout ratio (DPR) is currently -17.60%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TAP shares. The Goldman Sachs Group lowered their price objective on Molson Coors Beverage from $67.00 to $57.00 and set a "buy" rating for the company in a report on Thursday, October 2nd. 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 research report on Wednesday, November 5th. UBS Group lowered their price target on Molson Coors Beverage from $49.00 to $47.00 and set a "neutral" rating for the company in a report on Wednesday, November 5th. Morgan Stanley dropped their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. Finally, Evercore ISI decreased their price objective on shares of Molson Coors Beverage from $53.00 to $50.00 and set an "outperform" rating for the company in a report on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and a consensus target price of $53.59.

Read Our Latest Stock Analysis on TAP

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.

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