Clarius Group LLC Acquires New Stake in Molson Coors Beverage Company (NYSE:TAP)

Clarius Group LLC bought a new stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,334 shares of the company's stock, valued at approximately $446,000.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Molson Coors Beverage in the 4th quarter valued at about $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $68,010,000. Estuary Capital Management LP acquired a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $39,052,000. Freestone Grove Partners LP acquired a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $29,913,000. Finally, Raymond James Financial Inc. acquired a new position in Molson Coors Beverage in the 4th quarter valued at $27,660,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Needham & Company LLC dropped their price objective on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. 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 target price on the stock. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley dropped 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 report on Friday, May 9th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $63.26.

Molson Coors Beverage Price Performance

Shares of TAP traded down $0.78 on Friday, reaching $48.03. The stock had a trading volume of 4,635,495 shares, compared to its average volume of 2,115,018. The firm has a market capitalization of $9.71 billion, a PE ratio of 9.66, a PEG ratio of 1.79 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $54.85 and a 200 day moving average of $57.10. Molson Coors Beverage Company has a twelve month low of $47.83 and a twelve month high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its 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). The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The firm's revenue for the quarter was down 11.3% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. Sell-side analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a $0.47 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.91%. Molson Coors Beverage's payout ratio is 37.83%.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the 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 sale, the director now directly owns 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 through the SEC website. 2.71% of the stock is owned by corporate insiders.

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.