Artemis Investment Management LLP Purchases Shares of 412,034 Molson Coors Beverage Company (NYSE:TAP)

Artemis Investment Management LLP purchased a new stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 412,034 shares of the company's stock, valued at approximately $25,081,000. Artemis Investment Management LLP owned approximately 0.20% of Molson Coors Beverage at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TAP. Bank of Stockton raised its position in shares of Molson Coors Beverage by 13.2% during the first quarter. Bank of Stockton now owns 6,903 shares of the company's stock worth $420,000 after acquiring an additional 806 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Molson Coors Beverage by 131.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 664,550 shares of the company's stock worth $40,451,000 after purchasing an additional 377,391 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Molson Coors Beverage by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after buying an additional 290 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in Molson Coors Beverage in the first quarter valued at approximately $381,000. Finally, Asset Management One Co. Ltd. boosted its stake in Molson Coors Beverage by 4.4% in the first quarter. Asset Management One Co. Ltd. now owns 71,256 shares of the company's stock valued at $4,337,000 after acquiring an additional 3,029 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TAP shares. 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. Needham & Company LLC reduced their target price on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, May 12th. UBS Group decreased their target price on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Piper Sandler reduced their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $61.79.

Molson Coors Beverage Trading Up 0.0%

NYSE TAP opened at $47.25 on Friday. The stock has a market capitalization of $9.55 billion, a P/E ratio of 9.51, a P/E/G ratio of 1.76 and a beta of 0.72. Molson Coors Beverage Company has a one year low of $46.49 and a one year high of $64.66. The business has a 50 day simple moving average of $53.91 and a 200 day simple moving average of $56.75. 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 (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned $0.95 earnings per share. The business's quarterly revenue was down 11.3% on a year-over-year basis. Research analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.98%. 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 related news, Director Geoffrey E. Molson sold 1,333 shares of the firm's 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 transaction, the director now directly owns 27,595 shares of the company's stock, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.71% of the company's stock.

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.

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