Alps Advisors Inc. Invests $368,000 in Molson Coors Beverage Company (NYSE:TAP)

Alps Advisors Inc. bought a new stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,050 shares of the company's stock, valued at approximately $368,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in Molson Coors Beverage in the fourth quarter valued at approximately $1,991,000. HighTower Advisors LLC lifted its stake in shares of Molson Coors Beverage by 123.3% during the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock worth $1,047,000 after buying an additional 10,080 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Molson Coors Beverage in the 4th quarter valued at about $227,000. EverSource Wealth Advisors LLC lifted its holdings in Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock worth $56,000 after purchasing an additional 489 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Molson Coors Beverage by 39.2% in the 4th quarter. Farther Finance Advisors LLC now owns 2,394 shares of the company's stock valued at $137,000 after acquiring an additional 674 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded up $0.41 during trading hours on Thursday, reaching $50.09. The company had a trading volume of 856,231 shares, compared to its average volume of 2,146,988. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66. The business has a fifty day simple moving average of $51.56 and a 200 day simple moving average of $55.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.59. The firm has a market cap of $10.13 billion, a PE ratio of 10.06, a price-to-earnings-growth ratio of 2.72 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. Molson Coors Beverage's quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. On average, analysts anticipate 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. Shareholders of record on Friday, June 6th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.75%. The ex-dividend date was Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.83%.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the sale, the director owned 27,595 shares of the company's stock, valued at $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TAP. Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $65.00 to $50.00 in a report on Friday, June 27th. Citigroup reduced their price objective on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday. Berenberg Bank initiated coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective on the stock. Barclays reduced their price objective on Molson Coors Beverage from $57.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of "Hold" and an average price target of $59.12.

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.