Molson Coors Beverage Company $TAP Stock Position Raised by Gabelli Funds LLC

Gabelli Funds LLC increased its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 44.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 203,232 shares of the company's stock after acquiring an additional 62,632 shares during the quarter. Gabelli Funds LLC owned approximately 0.10% of Molson Coors Beverage worth $9,773,000 at the end of the most recent quarter.These 3 Consumer Staple Giants Are Oversold and Set to SkyrocketSeveral other hedge funds have also modified their holdings of TAP. Charles Schwab Investment Management Inc. raised its holdings in Molson Coors Beverage by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,704,932 shares of the company's stock worth $103,779,000 after buying an additional 20,311 shares during the period. Headlands Technologies LLC purchased a new position in shares of Molson Coors Beverage in the first quarter worth approximately $70,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Molson Coors Beverage by 7.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 305,886 shares of the company's stock valued at $18,619,000 after acquiring an additional 21,003 shares during the period. National Bank of Canada FI raised its holdings in shares of Molson Coors Beverage by 4.0% during the first quarter. National Bank of Canada FI now owns 416,880 shares of the company's stock valued at $25,378,000 after acquiring an additional 16,038 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Molson Coors Beverage in the 1st quarter valued at approximately $2,091,000. 78.46% of the stock is owned by hedge funds and other institutional investors. Get Molson Coors Beverage alerts:Insider Buying and SellingIn other Molson Coors Beverage news, Director Andrew Thomas Molson purchased 7,500 shares of the business's stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $46.79 per share, for a total transaction of $350,925.00. Following the acquisition, the director owned 22,654 shares of the company's stock, valued at $1,059,980.66. This trade represents a 49.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David S. Coors acquired 2,245 shares of the firm's stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average price of $44.47 per share, with a total value of $99,835.15. Following the completion of the acquisition, the director directly owned 30,586 shares of the company's stock, valued at $1,360,159.42. This represents a 7.92% increase in their position. The SEC filing for this purchase provides additional information. 2.71% of the stock is owned by insiders. Molson Coors Beverage Price PerformanceConstellation Brands: A Fallen Star or a Hidden Value Play?Shares of NYSE:TAP opened at $46.62 on Tuesday. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of -4.37 and a beta of 0.45. Molson Coors Beverage Company has a 1 year low of $42.94 and a 1 year high of $64.66. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $45.87 and a 200 day simple moving average of $48.46. 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). Molson Coors Beverage had a positive return on equity of 8.78% and a negative net margin of 15.89%.The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, sell-side analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year. Molson Coors Beverage Dividend AnnouncementTap Into Molson Coors Stock: A Top Beverage Value PlayThe firm 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, December 5th. Molson Coors Beverage's dividend payout ratio (DPR) is presently -17.60%. Analysts Set New Price TargetsSeveral equities analysts have weighed in on TAP shares. Evercore ISI lowered their price objective on shares of Molson Coors Beverage from $53.00 to $50.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 5th. Citigroup lowered their price target on Molson Coors Beverage from $51.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday, October 9th. Piper Sandler dropped their price target on Molson Coors Beverage from $52.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, November 21st. Needham & Company LLC reduced their price objective on Molson Coors Beverage from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, November 3rd. Finally, Jefferies Financial Group lowered their target price on Molson Coors Beverage from $51.00 to $48.00 and set a "hold" rating on the stock in a research note on Tuesday, November 4th. Five 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, the stock has a consensus rating of "Hold" and a consensus target price of $53.59.Read Our Latest Research Report on TAPMolson Coors Beverage Profile (Free Report)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.Recommended StoriesFive stocks we like better than Molson Coors Beverage3 Fintech Stocks With Good 2021 ProspectsWhat Dollar Tree’s Surge and Home Depot’s Slide Say About Consumer HealthWhat is a Stock Market Index and How Do You Use Them?3 Stocks Most Likely to Split in 2026Golden Cross Stocks: Pattern, Examples and Charts ChargePoint's Comeback Story: Why This EV Stock Is Charging Up AgainWant to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage Company (NYSE:TAP - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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