Molson Coors Beverage Company (NYSE:TAP) Shares Acquired by Capital Management Corp VA

Capital Management Corp VA grew its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 22.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 175,670 shares of the company's stock after buying an additional 31,950 shares during the period. Molson Coors Beverage accounts for 1.9% of Capital Management Corp VA's investment portfolio, making the stock its 23rd biggest position. Capital Management Corp VA owned approximately 0.09% of Molson Coors Beverage worth $10,693,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in TAP. DoubleLine ETF Adviser LP lifted its position in Molson Coors Beverage by 1.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock worth $590,000 after purchasing an additional 170 shares during the period. ProShare Advisors LLC lifted its stake in Molson Coors Beverage by 0.4% during the fourth quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after purchasing an additional 206 shares during the period. Forum Financial Management LP lifted its stake in Molson Coors Beverage by 4.4% during the fourth quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock worth $299,000 after purchasing an additional 220 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of Molson Coors Beverage by 3.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 7,014 shares of the company's stock valued at $402,000 after purchasing an additional 249 shares in the last quarter. Finally, Quarry LP grew its holdings in Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $65.00 to $50.00 in a research note on Friday, June 27th. Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. Morgan Stanley cut their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Barclays lowered their target price on shares of Molson Coors Beverage from $57.00 to $53.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $59.26.

Molson Coors Beverage Price Performance

TAP traded down $0.27 during midday trading on Friday, hitting $50.07. 1,903,441 shares of the company traded hands, compared to its average volume of 2,153,792. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 2.77 and a beta of 0.69. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66. The business has a 50 day simple moving average of $51.39 and a two-hundred day simple moving average of $55.66.

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 for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The business had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The business's quarterly revenue was down 11.3% on a year-over-year basis. On average, equities analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's payout ratio is 37.83%.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction that occurred on 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 transaction, the director owned 27,595 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.