14,994 Shares in Molson Coors Beverage Company (NYSE:TAP) Purchased by Achmea Investment Management B.V.

Achmea Investment Management B.V. bought a new position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,994 shares of the company's stock, valued at approximately $913,000.

A number of other hedge funds have also recently bought and sold shares of TAP. Norges Bank acquired a new position in Molson Coors Beverage during the fourth quarter worth about $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new position in Molson Coors Beverage during the fourth quarter worth about $68,010,000. Estuary Capital Management LP acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $39,052,000. Freestone Grove Partners LP acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $29,913,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $27,660,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the sale, the director now directly owns 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.71% of the stock is owned by corporate insiders.

Molson Coors Beverage Stock Up 0.5%

Shares of Molson Coors Beverage stock opened at $47.48 on Friday. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 1.77 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.59. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66. The stock has a 50-day simple moving average of $53.69 and a 200-day simple moving average of $56.62.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share. On average, equities research analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.47 per share. The ex-dividend date was Friday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.96%. Molson Coors Beverage's dividend payout ratio is 37.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday. Wall Street Zen lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Berenberg Bank assumed coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target for the company. Piper Sandler decreased their price target on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday, June 23rd. Finally, Needham & Company LLC decreased their price target on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.46.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.