Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 23,100 Shares of Molson Coors Beverage Company $TAP

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 39.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,966 shares of the company's stock after selling 23,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Molson Coors Beverage were worth $2,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its stake in shares of Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after purchasing an additional 290 shares in the last quarter. Millstone Evans Group LLC raised its stake in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after purchasing an additional 255 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after acquiring an additional 493 shares during the period. Eastern Bank bought a new stake in Molson Coors Beverage in the 1st quarter valued at $33,000. Finally, CoreCap Advisors LLC raised its stake in Molson Coors Beverage by 10,716.7% in the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after acquiring an additional 643 shares during the period. Institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Barclays dropped their price target on Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Needham & Company LLC dropped their price target on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Evercore ISI lowered their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. Finally, Sanford C. Bernstein lowered their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 9th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and an average price target of $58.12.

Molson Coors Beverage Stock Performance

TAP opened at $51.42 on Monday. The firm has a market cap of $10.40 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The business's fifty day moving average is $49.78 and its 200-day moving average is $54.99.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. Molson Coors Beverage's quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 EPS. Sell-side analysts expect that Molson Coors Beverage Company will post 6.35 EPS 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. Investors of record on Friday, September 5th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.7%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.08%.

Insiders Place Their Bets

In related news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the sale, the director directly owned 27,595 shares of the company's stock, 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 filing with the SEC, which is available through this link. 2.71% of the stock is owned by company insiders.

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.

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