Cwm LLC Sells 13,100 Shares of Molson Coors Beverage Company (NYSE:TAP)

CWM LLC cut its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 33.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,633 shares of the company's stock after selling 13,100 shares during the quarter. CWM LLC's holdings in Molson Coors Beverage were worth $1,560,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. HighTower Advisors LLC grew its stake in shares of Molson Coors Beverage by 123.3% in the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock valued at $1,047,000 after buying an additional 10,080 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 8.7% during the fourth quarter. Natixis Advisors LLC now owns 43,159 shares of the company's stock worth $2,474,000 after acquiring an additional 3,472 shares during the period. Parallel Advisors LLC boosted its stake in Molson Coors Beverage by 8.3% in the 4th quarter. Parallel Advisors LLC now owns 7,029 shares of the company's stock valued at $403,000 after purchasing an additional 538 shares during the period. Royal London Asset Management Ltd. boosted its stake in shares of Molson Coors Beverage by 4.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 476,103 shares of the company's stock valued at $27,290,000 after buying an additional 18,882 shares during the period. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of Molson Coors Beverage during the 4th quarter worth approximately $483,000. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Performance

TAP traded down $0.27 on Friday, hitting $50.07. The company's stock had a trading volume of 1,903,441 shares, compared to its average volume of 2,153,792. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The company's 50 day simple moving average is $51.39 and its 200-day simple moving average is $55.66. 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 market cap of $10.12 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 2.77 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). The company had revenue of $2.30 billion for 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%. The business's revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. Analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company 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 dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TAP. Needham & Company LLC lowered their target price on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, May 12th. 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 price objective for the company. Morgan Stanley decreased their price objective on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Wells Fargo & Company decreased their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Finally, Piper Sandler decreased their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday, June 23rd. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $59.26.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,333 shares of the company'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 transaction 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. This represents 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. 2.71% of the stock is owned by 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.