7,490 Shares in Molson Coors Beverage Company (NYSE:TAP) Bought by Foster & Motley Inc.

Key Points

• Foster & Motley Inc. invested approximately $456,000 in Molson Coors Beverage Company, acquiring 7,490 shares in the 1st quarter.
• The company recently reported a net margin of 7.74% and earnings per share (EPS) of $0.50, missing the consensus estimate of $0.80.
• Molson Coors Beverage announced a quarterly dividend of $0.47 per share, representing an annual yield of 3.9% and a payout ratio of 37.83%.

Foster & Motley Inc. bought a new stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,490 shares of the company's stock, valued at approximately $456,000.

Several other large investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of Molson Coors Beverage by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock worth $245,308,000 after acquiring an additional 54,867 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Molson Coors Beverage by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock worth $251,442,000 after acquiring an additional 595,203 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Molson Coors Beverage by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock worth $217,200,000 after acquiring an additional 152,622 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Molson Coors Beverage by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company's stock worth $215,146,000 after acquiring an additional 422,515 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Molson Coors Beverage by 12.7% in the fourth quarter. Northern Trust Corp now owns 1,970,718 shares of the company's stock worth $112,962,000 after buying an additional 221,539 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the sale, the director directly owned 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Barclays decreased their target price on Molson Coors Beverage from $57.00 to $53.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Morgan Stanley decreased their target price on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Finally, Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and an average price target of $58.87.

Molson Coors Beverage Stock Down 1.0%

Shares of NYSE TAP traded down $0.50 during mid-day trading on Friday, hitting $48.22. The company had a trading volume of 3,089,493 shares, compared to its average volume of 2,136,257. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66. The company has a market capitalization of $9.75 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 2.93 and a beta of 0.67. The firm has a 50-day simple moving average of $50.32 and a two-hundred day simple moving average of $55.32. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results 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). The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The company's revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. On average, equities analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.9%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

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.