Gamco Investors INC. ET AL Grows Position in Molson Coors Beverage Company $TAP

Gamco Investors INC. ET AL boosted its position in Molson Coors Beverage Company (NYSE:TAP) by 182.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,290 shares of the company’s stock after acquiring an additional 54,410 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Molson Coors Beverage were worth $4,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. Charles Schwab Investment Management Inc. raised its holdings in shares of Molson Coors Beverage by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,704,932 shares of the company’s stock valued at $103,779,000 after purchasing an additional 20,311 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Molson Coors Beverage in the first quarter valued at $70,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Molson Coors Beverage in the first quarter valued at $2,091,000. Entropy Technologies LP purchased a new stake in Molson Coors Beverage during the 1st quarter worth about $911,000. Finally, Nuveen LLC acquired a new position in shares of Molson Coors Beverage during the 1st quarter worth about $22,253,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 3.1%

Molson Coors Beverage stock opened at $45.18 on Wednesday. The stock has a 50 day moving average of $45.87 and a two-hundred day moving average of $48.40. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of -4.23 and a beta of 0.45. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 EPS 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 company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, research analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, December 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is -17.60%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TAP shares. JPMorgan Chase & Co. initiated coverage on Molson Coors Beverage in a research report on Wednesday, November 5th. They set a “neutral” rating and a $49.00 target price on the stock. Barclays cut their price objective on shares of Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating on the stock in a report on Thursday, November 6th. Roth Capital restated a “buy” rating and issued a $65.00 target price (down previously from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th. Jefferies Financial Group cut their price target on shares of 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. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price target (down from $53.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 19th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $53.59.

Insider Activity

In other Molson Coors Beverage news, Director Andrew Thomas Molson acquired 7,500 shares of the stock in a transaction on Monday, November 10th. The shares were bought at an average price of $46.79 per share, with a total value 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 Securities & Exchange Commission, which is accessible through this link. Also, Director David S. Coors bought 2,245 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were acquired at an average price of $44.47 per share, for a total transaction of $99,835.15. Following the transaction, the director directly owned 30,586 shares in the company, valued at $1,360,159.42. This trade represents a 7.92% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.71% of the stock is owned by insiders.

Molson Coors Beverage 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.