KBC Group NV Has $75.33 Million Stock Holdings in Molson Coors Beverage Company (NYSE:TAP)

KBC Group NV grew its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 269.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,237,539 shares of the company's stock after buying an additional 902,296 shares during the period. KBC Group NV owned 0.61% of Molson Coors Beverage worth $75,329,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TAP. Proficio Capital Partners LLC acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $1,991,000. QRG Capital Management Inc. increased its stake in shares of Molson Coors Beverage by 6.2% in the fourth quarter. QRG Capital Management Inc. now owns 58,876 shares of the company's stock valued at $3,375,000 after buying an additional 3,430 shares during the period. Private Trust Co. NA increased its stake in shares of Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after buying an additional 276 shares during the period. US Bancorp DE increased its stake in shares of Molson Coors Beverage by 103.9% in the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after buying an additional 9,825 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Molson Coors Beverage by 463.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,593 shares of the company's stock valued at $147,000 after buying an additional 2,133 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the firm'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 value of $75,034.57. Following the transaction, the director now owns 27,595 shares in the company, valued at $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.71% of the company's stock.

Molson Coors Beverage Stock Up 0.5%

Shares of NYSE:TAP opened at $47.48 on Friday. The business's 50 day simple moving average is $53.69 and its two-hundred day simple moving average is $56.62. The firm has a market cap of $9.60 billion, a P/E ratio of 9.55, a PEG ratio of 1.77 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.59 and a current ratio of 0.89. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly 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 the consensus estimate of $2.43 billion. Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The firm's revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, research analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.96%. Molson Coors Beverage's dividend payout ratio is presently 37.83%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TAP. UBS Group decreased their price target on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Barclays decreased their target price on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Needham & Company LLC decreased their target price on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Finally, 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 note on Friday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and an average price target of $60.46.

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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