Fluent Financial LLC Has $4.20 Million Holdings in Molson Coors Beverage (NYSE:TAP)

Fluent Financial LLC decreased its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,227 shares of the company's stock after selling 14,307 shares during the quarter. Molson Coors Beverage makes up 1.9% of Fluent Financial LLC's portfolio, making the stock its 17th biggest holding. Fluent Financial LLC's holdings in Molson Coors Beverage were worth $4,197,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TAP. Truvestments Capital LLC grew 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 in the last quarter. CoreCap Advisors LLC lifted its stake in shares of Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after acquiring an additional 643 shares during the last quarter. Quarry LP lifted its stake in shares of Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after acquiring an additional 254 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP traded down $1.24 during trading on Wednesday, reaching $52.95. The stock had a trading volume of 2,980,258 shares, compared to its average volume of 2,144,098. The stock has a market cap of $10.71 billion, a PE ratio of 9.90, a P/E/G ratio of 1.52 and a beta of 0.73. The firm's 50 day moving average price is $57.94 and its two-hundred day moving average price is $58.32. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.50 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 9.34% and a net margin of 8.17%. Molson Coors Beverage's quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 earnings per share. On average, research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Friday, June 6th. Molson Coors Beverage's dividend payout ratio is currently 37.83%.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,333 shares of the 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 completion of the sale, the director now directly owns 27,595 shares of the company's stock, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TAP shares. Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Roth Capital set a $71.00 price target on Molson Coors Beverage and gave the company a "buy" rating in a research note on Tuesday, May 20th. UBS Group decreased their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a report on Friday, May 9th. 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 price target on the stock. Finally, Morgan Stanley lowered 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $63.26.

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.