Pacer Advisors Inc. Has $42.39 Million Stock Holdings in Molson Coors Beverage Company $TAP

Pacer Advisors Inc. boosted its position in Molson Coors Beverage Company (NYSE:TAP) by 3,664.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 908,166 shares of the company’s stock after buying an additional 884,041 shares during the quarter. Pacer Advisors Inc.’s holdings in Molson Coors Beverage were worth $42,393,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Molson Coors Beverage by 16.5% in the 4th quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock valued at $68,000 after purchasing an additional 208 shares during the last quarter. New York Life Investment Management LLC grew its position in shares of Molson Coors Beverage by 0.9% during the 4th quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock worth $1,069,000 after buying an additional 210 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after buying an additional 221 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in shares of Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after buying an additional 244 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.1%

Shares of NYSE TAP opened at $39.37 on Friday. The stock has a market cap of $7.38 billion, a P/E ratio of -3.70 and a beta of 0.41. The firm has a 50 day moving average price of $41.74 and a 200 day moving average price of $45.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.26. The company had revenue of $2.35 billion for 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%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. Analysts expect that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -18.05%.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage 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 directly owned 9,871 shares in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.27% of the company’s stock.

Wall Street Analysts Forecast Growth

TAP has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $42.00 price objective on shares of Molson Coors Beverage in a report on Friday, May 1st. Morgan Stanley dropped their target price on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Bank of America downgraded Molson Coors Beverage from a “neutral” rating to an “underperform” rating and cut their price target for the company from $50.00 to $42.00 in a research note on Wednesday, February 25th. Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, BNP Paribas Exane decreased their price objective on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a research note on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $44.88.

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.