Econ Financial Services Corp Increases Stock Holdings in Molson Coors Beverage Company $TAP

Econ Financial Services Corp lifted its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 41.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,106 shares of the company’s stock after buying an additional 12,842 shares during the quarter. Econ Financial Services Corp’s holdings in Molson Coors Beverage were worth $1,996,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC lifted its holdings in shares of Molson Coors Beverage by 448.8% in the first quarter. Cubist Systematic Strategies LLC now owns 11,858 shares of the company’s stock valued at $722,000 after purchasing an additional 15,258 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Molson Coors Beverage during the 1st quarter worth approximately $200,000. Alliancebernstein L.P. raised its position in shares of Molson Coors Beverage by 21.0% during the 1st quarter. Alliancebernstein L.P. now owns 282,735 shares of the company’s stock worth $17,210,000 after purchasing an additional 49,133 shares during the last quarter. Clark Capital Management Group Inc. lifted its stake in Molson Coors Beverage by 54.3% in the 1st quarter. Clark Capital Management Group Inc. now owns 759,783 shares of the company’s stock valued at $46,248,000 after buying an additional 267,449 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its stake in Molson Coors Beverage by 18.5% in the 1st quarter. Gotham Asset Management LLC now owns 387,768 shares of the company’s stock valued at $23,603,000 after buying an additional 60,506 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

TAP opened at $46.75 on Friday. Molson Coors Beverage Company has a 1 year low of $42.94 and a 1 year high of $64.66. The company’s 50 day simple moving average is $46.10 and its 200 day simple moving average is $47.80. The stock has a market capitalization of $9.24 billion, a PE ratio of -4.38 and a beta of 0.45. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.45 and a current ratio of 0.60.

Molson Coors Beverage (NYSE:TAP) last issued 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). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage had a positive return on equity of 8.78% and a negative net margin of 15.89%.Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, sell-side analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, December 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is -17.60%.

Insiders Place Their Bets

In other news, Director Andrew Thomas Molson bought 7,500 shares of Molson Coors Beverage stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the acquisition, the director owned 22,654 shares of the company’s stock, valued at $1,059,980.66. The trade was a 49.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David S. Coors purchased 2,245 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were purchased at an average price of $44.47 per share, with a total value of $99,835.15. Following the completion of the purchase, the director directly owned 30,586 shares of the company’s stock, valued at $1,360,159.42. The trade was a 7.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TAP shares. Roth Capital reissued a “buy” rating and issued a $65.00 price target (down from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th. UBS Group cut their target price on shares of Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Evercore ISI cut their price objective on shares of Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Finally, Barclays reduced 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 research note on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average target price of $53.59.

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.