58,233 Shares in Molson Coors Beverage (NYSE:TAP) Purchased by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ purchased a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 58,233 shares of the company's stock, valued at approximately $3,338,000.

Several other institutional investors have also made changes to their positions in the stock. Randolph Co Inc lifted its holdings in shares of Molson Coors Beverage by 26.2% during the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company's stock worth $27,352,000 after acquiring an additional 98,984 shares during the period. HighTower Advisors LLC lifted its stake in Molson Coors Beverage by 123.3% during the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock worth $1,047,000 after purchasing an additional 10,080 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Molson Coors Beverage by 103.9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after purchasing an additional 9,825 shares in the last quarter. Unified Investment Management bought a new position in shares of Molson Coors Beverage in the 4th quarter valued at $871,000. Finally, Wilsey Asset Management Inc. raised its holdings in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock worth $31,557,000 after buying an additional 8,679 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley dropped their price objective on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. UBS Group cut their target price on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Barclays lowered their price target on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price on the stock. Finally, Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $63.26.

Molson Coors Beverage Price Performance

Shares of TAP stock traded down $0.77 during trading hours on Monday, reaching $52.82. The stock had a trading volume of 1,097,703 shares, compared to its average volume of 2,137,015. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $10.68 billion, a PE ratio of 9.87, a PEG ratio of 1.52 and a beta of 0.73. The stock's fifty day simple moving average is $57.72 and its 200 day simple moving average is $58.15.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter last year, the business posted $0.95 EPS. The company's quarterly revenue was down 11.3% on a year-over-year basis. On average, equities research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Friday, June 6th. Molson Coors Beverage's dividend payout ratio is presently 37.83%.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were 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 $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.71% of the stock is owned by corporate insiders.

About Molson Coors Beverage

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.