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Invesco Ltd. Trims Stock Holdings in Molson Coors Beverage Company (NYSE:TAP)

Molson Coors Beverage logo with Consumer Staples background

Invesco Ltd. lowered its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,651,046 shares of the company's stock after selling 138,212 shares during the quarter. Invesco Ltd. owned approximately 1.80% of Molson Coors Beverage worth $222,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after acquiring an additional 290 shares during the last quarter. Millstone Evans Group LLC lifted its holdings in shares of Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after acquiring an additional 255 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Molson Coors Beverage by 3,286.7% in the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after acquiring an additional 493 shares during the last quarter. Eastern Bank acquired a new position in shares of Molson Coors Beverage in the first quarter valued at approximately $33,000. Finally, First Financial Corp IN acquired a new position in shares of Molson Coors Beverage in the first quarter valued at approximately $37,000. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 0.4%

Shares of TAP traded up $0.19 during trading hours on Friday, reaching $51.42. The stock had a trading volume of 1,514,086 shares, compared to its average volume of 2,850,004. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The firm has a 50-day simple moving average of $49.78 and a 200 day simple moving average of $54.99. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 1.87 and a beta of 0.67.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the business earned $1.92 EPS. Molson Coors Beverage's quarterly revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that Molson Coors Beverage Company 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, September 19th. Shareholders of record on Friday, September 5th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's payout ratio is presently 37.08%.

Wall Street Analysts Forecast Growth

TAP has been the subject of several recent research reports. Wells Fargo & Company lowered their price objective on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Sanford C. Bernstein lowered their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research note on Wednesday, July 9th. Needham & Company LLC lowered their price objective on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Bank of America downgraded Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Finally, UBS Group lowered their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus price target of $58.12.

Check Out Our Latest Analysis on TAP

Insiders Place Their Bets

In other news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the transaction, the director owned 27,595 shares of the company's stock, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.71% of the stock is owned by insiders.

About Molson Coors Beverage

(Free Report)

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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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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