Molson Coors Beverage (NYSE:TAP) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 23.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,781 shares of the company's stock after selling 68,296 shares during the period. California State Teachers Retirement System owned 0.11% of Molson Coors Beverage worth $12,541,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Randolph Co Inc increased its stake in Molson Coors Beverage by 26.2% during the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company's stock valued at $27,352,000 after purchasing an additional 98,984 shares in the last quarter. HighTower Advisors LLC lifted its position in Molson Coors Beverage by 123.3% during the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock valued at $1,047,000 after purchasing an additional 10,080 shares in the last quarter. US Bancorp DE lifted its position in shares of Molson Coors Beverage by 103.9% during the 4th quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after buying an additional 9,825 shares in the last quarter. Unified Investment Management bought a new stake in Molson Coors Beverage during the 4th quarter worth approximately $871,000. Finally, Wilsey Asset Management Inc. boosted its holdings in Molson Coors Beverage by 1.6% in 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 during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 1.4%

TAP stock traded down $0.74 on Monday, hitting $52.85. 2,116,018 shares of the company's stock were exchanged, compared to its average volume of 2,140,892. The firm has a 50 day moving average price of $57.72 and a two-hundred day moving average price of $58.15. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $64.66. The stock has a market cap of $10.68 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

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

Molson Coors Beverage Dividend Announcement

The business 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 dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.56%. Molson Coors Beverage's payout ratio is 37.83%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TAP shares. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the company a "buy" rating in a research note on Tuesday, May 20th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price target for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price on the stock. Morgan Stanley reduced their target price on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Finally, Needham & Company LLC decreased their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a report on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $63.26.

Insiders Place Their Bets

In related 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 value of $75,034.57. Following the transaction, the director now directly owns 27,595 shares of the company's stock, valued at $1,553,322.55. This represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.71% of the company's stock.

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.