Focus Partners Wealth Sells 15,592 Shares of Molson Coors Beverage (NYSE:TAP)

Focus Partners Wealth cut its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 55.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,344 shares of the company's stock after selling 15,592 shares during the period. Focus Partners Wealth's holdings in Molson Coors Beverage were worth $709,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TAP. DoubleLine ETF Adviser LP increased its holdings in shares of Molson Coors Beverage by 1.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock valued at $590,000 after acquiring an additional 170 shares during the last quarter. Venturi Wealth Management LLC boosted its position in 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% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $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% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after purchasing an additional 203 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of Molson Coors Beverage by 21.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock worth $71,000 after buying an additional 218 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Down 2.2%

NYSE TAP traded down $1.24 on Wednesday, reaching $55.71. The company had a trading volume of 3,272,074 shares, compared to its average volume of 2,127,133. The company's fifty day moving average is $58.44 and its 200-day moving average is $58.43. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. 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 1-year low of $49.19 and a 1-year high of $64.66.

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 for the quarter, missing the consensus estimate of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm's quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the prior 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 business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, June 6th. Molson Coors Beverage's dividend payout ratio is currently 37.83%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday. 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. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price on the stock. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and an average target price of $62.71.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the business'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 transaction, the director now owns 27,595 shares of the company's stock, valued at $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.