789,526 Shares in Molson Coors Beverage (NYSE:TAP) Bought by Ilex Capital Partners UK LLP

Ilex Capital Partners UK LLP purchased a new position in Molson Coors Beverage (NYSE:TAP) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 789,526 shares of the company’s stock, valued at approximately $53,096,000. Molson Coors Beverage accounts for about 5.2% of Ilex Capital Partners UK LLP’s investment portfolio, making the stock its 8th largest position. Ilex Capital Partners UK LLP owned 0.37% of Molson Coors Beverage at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Tennessee Valley Asset Management Partners purchased a new stake in Molson Coors Beverage in the fourth quarter worth $29,000. Montag A & Associates Inc. purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth $31,000. Raleigh Capital Management Inc. grew its stake in shares of Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 501 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth $36,000. Finally, Allworth Financial LP grew its stake in shares of Molson Coors Beverage by 179.4% in the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after acquiring an additional 400 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

TAP stock traded up $0.14 during trading on Tuesday, reaching $53.26. The stock had a trading volume of 1,758,121 shares, compared to its average volume of 1,933,672. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $70.41. The stock’s 50 day moving average is $51.91 and its two-hundred day moving average is $59.07. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.28 billion, a PE ratio of 10.65, a PEG ratio of 2.33 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. Molson Coors Beverage’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.56 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s payout ratio is 35.20%.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on Molson Coors Beverage from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Evercore ISI cut their target price on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Jefferies Financial Group cut their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research note on Thursday, July 18th. Bank of America cut their target price on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Molson Coors Beverage from $62.00 to $56.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.47.

Molson Coors Beverage Company 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.