Twin Capital Management Inc. Purchases 13,189 Shares of Molson Coors Beverage Company $TAP

Twin Capital Management Inc. boosted its holdings in Molson Coors Beverage Company (NYSE:TAP) by 59.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 35,228 shares of the company’s stock after buying an additional 13,189 shares during the period. Twin Capital Management Inc.’s holdings in Molson Coors Beverage were worth $1,517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TAP. GoalVest Advisory LLC bought a new position in shares of Molson Coors Beverage in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. raised its stake in 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 period. Basepoint Wealth LLC purchased a new position in Molson Coors Beverage in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its stake in Molson Coors Beverage by 64.2% in the 2nd 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 period. Finally, Larson Financial Group LLC boosted its stake in Molson Coors Beverage by 551.1% in the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after purchasing an additional 518 shares during the period. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Price Performance

TAP stock opened at $39.60 on Thursday. Molson Coors Beverage Company has a 52 week low of $38.04 and a 52 week high of $54.82. The firm has a market capitalization of $7.43 billion, a P/E ratio of -3.72 and a beta of 0.42. The company has a fifty day simple moving average of $40.35 and a two-hundred day simple moving average of $44.34. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the company earned $0.50 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Molson Coors Beverage Company will post 4.8 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -18.05%.

Wall Street Analysts Forecast Growth

TAP has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research report on Friday, May 1st. Citigroup dropped their target price on shares of Molson Coors Beverage from $47.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday. Needham & Company LLC cut their target price on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Evercore reduced their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average target price of $44.35.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction that occurred on 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 owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.27% of the company’s stock.

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.