CWA Asset Management Group LLC Invests $3.14 Million in Molson Coors Beverage Company (NYSE:TAP)

CWA Asset Management Group LLC bought a new stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 51,622 shares of the company's stock, valued at approximately $3,142,000.

Several other hedge funds have also recently added to or reduced their stakes in TAP. DoubleLine ETF Adviser LP raised its position in shares of Molson Coors Beverage by 1.7% during 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. Venturi Wealth Management LLC raised its position in shares of Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock worth $168,000 after purchasing an additional 202 shares during the period. Truvestments Capital LLC raised its position in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of 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. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 1.6%

Shares of NYSE:TAP traded down $0.78 during mid-day trading on Friday, reaching $48.03. 4,635,495 shares of the stock were exchanged, compared to its average volume of 2,115,018. 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 company has a market cap of $9.71 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.79 and a beta of 0.72. Molson Coors Beverage Company has a one year low of $47.83 and a one year high of $64.66. The stock's 50 day simple moving average is $54.85 and its 200-day simple moving average is $57.10.

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 analysts' consensus estimates 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 net margin of 7.74% and a return on equity of 8.59%. The firm's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, equities research analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders 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 dividend payout ratio is 37.83%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. UBS Group dropped their price target on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Roth Capital set a $71.00 price target on Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Needham & Company LLC dropped their price target 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. Berenberg Bank assumed coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target on the stock. Finally, Morgan Stanley dropped their price target 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and an average target price of $63.26.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 27,595 shares in the company, valued at $1,553,322.55. This trade 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 this link. Corporate insiders own 2.71% of the company's stock.

About Molson Coors Beverage

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.