Fluent Financial LLC Sells 5,091 Shares of Molson Coors Beverage (NYSE:TAP)

Fluent Financial LLC lessened its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,136 shares of the company's stock after selling 5,091 shares during the quarter. Molson Coors Beverage comprises about 1.8% of Fluent Financial LLC's investment portfolio, making the stock its 14th biggest holding. Fluent Financial LLC's holdings in Molson Coors Beverage were worth $4,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TAP. Chicago Partners Investment Group LLC bought a new stake in shares of Molson Coors Beverage in the fourth quarter worth $210,000. Mather Group LLC. boosted its position in Molson Coors Beverage by 21.1% in the fourth quarter. Mather Group LLC. now owns 4,116 shares of the company's stock worth $236,000 after purchasing an additional 718 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Molson Coors Beverage by 12.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,724 shares of the company's stock valued at $1,197,000 after purchasing an additional 2,372 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Molson Coors Beverage by 3.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,342 shares of the company's stock valued at $1,166,000 after purchasing an additional 680 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its stake in shares of Molson Coors Beverage by 11.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 168,607 shares of the company's stock worth $9,665,000 after purchasing an additional 17,242 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Berenberg Bank assumed coverage on shares of Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective for the company. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, UBS Group lowered their target price 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. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $63.26.

Molson Coors Beverage Price Performance

TAP traded down $0.94 on Thursday, hitting $51.84. 2,937,405 shares of the company's stock traded hands, compared to its average volume of 2,135,786. The company's 50 day simple moving average is $57.07 and its 200-day simple moving average is $57.94. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 1.52 and a beta of 0.73.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business earned $0.95 EPS. The company's quarterly revenue was down 11.3% on a year-over-year basis. As a group, research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Friday, June 6th. Molson Coors Beverage's payout ratio is currently 37.83%.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage 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 transaction, the director now owns 27,595 shares in the company, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.71% of the stock is currently owned by company insiders.

Molson Coors Beverage Company 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.