Jackson Creek Investment Advisors LLC Makes New Investment in Molson Coors Beverage Company (NYSE:TAP)

Jackson Creek Investment Advisors LLC acquired a new stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,706 shares of the company's stock, valued at approximately $1,078,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC lifted its stake in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after purchasing an additional 290 shares during the period. Financial Management Professionals Inc. grew its holdings in shares of Molson Coors Beverage by 3,286.7% during the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after buying an additional 493 shares in the last quarter. First Financial Corp IN acquired a new position in shares of Molson Coors Beverage during the 1st quarter valued at about $37,000. CoreCap Advisors LLC boosted its position 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 valued at $37,000 after acquiring an additional 643 shares during the last quarter. Finally, Quarry LP lifted its position in Molson Coors Beverage by 55.1% in the fourth quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after buying an additional 254 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction on 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 owned 27,595 shares of the company's stock, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TAP. Needham & Company LLC decreased their target price on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Sanford C. Bernstein dropped their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 9th. Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the company a "buy" rating in a research note on Tuesday, May 20th. Piper Sandler lowered their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, June 23rd. Finally, Morgan Stanley reduced their target price on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Thirteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $59.12.

Molson Coors Beverage Price Performance

TAP stock traded up $0.28 during trading on Friday, hitting $50.62. The stock had a trading volume of 171,938 shares, compared to its average volume of 2,411,455. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.59 and a current ratio of 0.89. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 2.75 and a beta of 0.69. The company's 50 day moving average price is $51.48 and its two-hundred day moving average price is $55.72. Molson Coors Beverage Company has a 1-year low of $46.94 and a 1-year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the firm posted $0.95 earnings per share. The business's revenue was down 11.3% on a year-over-year basis. On average, sell-side analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's payout ratio is 37.83%.

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.

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