CWA Asset Management Group LLC Purchases Shares of 51,622 Molson Coors Beverage Company (NYSE:TAP)

CWA Asset Management Group LLC acquired a new position 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 51,622 shares of the company's stock, valued at approximately $3,142,000.

Several other large investors have also modified their holdings of the stock. Financial Management Professionals Inc. raised its holdings 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 worth $31,000 after purchasing an additional 493 shares during the period. Truvestments Capital LLC increased its position in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares in the last quarter. First Financial Corp IN purchased a new position in Molson Coors Beverage in the first quarter valued at approximately $37,000. CoreCap Advisors LLC lifted its position in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after buying an additional 643 shares in the last quarter. Finally, Quarry LP lifted its position in Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after buying an additional 254 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Needham & Company LLC cut their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Morgan Stanley reduced their price objective 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. Barclays lowered their target price on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Finally, Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the company 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $63.26.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were 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 in the company, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.71% of the company's stock.

Molson Coors Beverage Stock Down 1.2%

Shares of NYSE:TAP opened at $48.76 on Thursday. Molson Coors Beverage Company has a 12-month low of $48.75 and a 12-month high of $64.66. 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 firm has a market cap of $9.86 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 1.84 and a beta of 0.72. The company has a fifty day simple moving average of $55.32 and a 200 day simple moving average of $57.31.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released 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 company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. Molson Coors Beverage's revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. On average, equities research analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's dividend payout ratio is presently 37.83%.

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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