5,065 Shares in Molson Coors Beverage Company (NYSE:TAP) Purchased by Bailard Inc.

Bailard Inc. acquired a new stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,065 shares of the company's stock, valued at approximately $308,000.

Other institutional investors have also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its stake in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after purchasing an additional 290 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after purchasing an additional 493 shares during the period. First Financial Corp IN purchased a new position in shares of Molson Coors Beverage in the 1st quarter valued at approximately $37,000. CoreCap Advisors LLC lifted its stake in shares of Molson Coors Beverage by 10,716.7% in the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after purchasing an additional 643 shares during the period. Finally, Quarry LP lifted its stake in shares of Molson Coors Beverage by 55.1% in the 4th quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after purchasing an additional 254 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TAP. Sanford C. Bernstein lowered their target price on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research note on Wednesday, July 9th. Morgan Stanley decreased their price target on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Citigroup decreased their price target on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $59.26.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock traded up $1.65 during mid-day trading on Tuesday, reaching $51.61. 2,434,953 shares of the stock traded hands, compared to its average volume of 2,153,974. The business has a 50-day moving average of $51.39 and a 200 day moving average of $55.65. Molson Coors Beverage Company has a fifty-two week low of $46.94 and a fifty-two week high of $64.66. The stock has a market capitalization of $10.43 billion, a PE ratio of 10.39, a PEG ratio of 2.77 and a beta of 0.69. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $2.30 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. On average, analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction on 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 directly owned 27,595 shares in the company, valued at $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.71% of the stock is owned by company insiders.

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.