Key Points
- Director Geoffrey Molson sold 1,245 shares of Molson Coors Beverage (NYSE:TAP) at an average price of $42.50, trimming his stake by about 11.2% to 9,871 shares.
- The company recently reported better-than-expected quarterly results, with EPS of $0.62 versus the $0.36 consensus and revenue of $2.35 billion, slightly above estimates.
- Molson Coors also announced a quarterly dividend of $0.48 per share, payable June 12, which annualizes to $1.92 per share for a 4.5% yield.
Molson Coors Beverage Company (NYSE:TAP - Get Free Report) Director Geoffrey Molson sold 1,245 shares of the firm'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 sale, the director directly owned 9,871 shares of the company's stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Molson Coors Beverage Price Performance
TAP stock opened at $42.52 on Friday. The business has a fifty day moving average of $42.85 and a two-hundred day moving average of $46.06. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of -4.00 and a beta of 0.44. Molson Coors Beverage Company has a 52-week low of $40.64 and a 52-week high of $54.82.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.26. The company had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. As a group, research analysts anticipate that Molson Coors Beverage Company will post 4.74 earnings per share for the current year.
Molson Coors Beverage Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.5%. Molson Coors Beverage's payout ratio is presently -18.05%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dodge & Cox grew its stake in Molson Coors Beverage by 29.4% during the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company's stock worth $843,063,000 after purchasing an additional 4,235,029 shares in the last quarter. 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 worth $475,886,000 after purchasing an additional 1,693,682 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Molson Coors Beverage by 10.4% during the 1st 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 in the last quarter. Invesco Ltd. grew its stake in Molson Coors Beverage by 1.2% during the 4th 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Molson Coors Beverage by 16.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company's stock worth $143,236,000 after purchasing an additional 469,607 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Zacks Research raised Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Piper Sandler dropped their price objective on Molson Coors Beverage from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, February 19th. Morgan Stanley dropped their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an "equal weight" rating for the company in a research note on Monday, May 4th. TD Cowen dropped their price objective on Molson Coors Beverage from $47.00 to $43.00 and set a "hold" rating for the company in a research note on Friday, February 20th. Finally, The Goldman Sachs Group lifted their price objective on Molson Coors Beverage from $48.00 to $50.00 in a research note on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of "Hold" and an average target price of $45.59.
View Our Latest Stock Report on TAP
Molson Coors Beverage Company Profile
(
Get Free Report)
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.
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