Kingsview Wealth Management LLC Has $393,000 Holdings in Molson Coors Beverage Company $TAP

Key Points

• Kingsview Wealth Management cut its stake in Molson Coors Beverage by 95.7% in the fourth quarter, leaving it with 8,420 shares worth about $393,000.
• Molson Coors reported better-than-expected quarterly results, earning $0.62 per share versus the $0.36 consensus and posting $2.35 billion in revenue, up 2% year over year.
• The company declared a quarterly dividend of $0.48 per share, equal to a $1.92 annualized payout and a 5.0% yield, while analysts currently rate the stock a consensus Hold with a $45 average price target.

Kingsview Wealth Management LLC reduced its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 95.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,420 shares of the company's stock after selling 189,495 shares during the quarter. Kingsview Wealth Management LLC's holdings in Molson Coors Beverage were worth $393,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Dodge & Cox raised its stake in shares of Molson Coors Beverage by 29.4% in the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company's stock valued at $843,063,000 after buying an additional 4,235,029 shares in the last quarter. State Street Corp boosted its position in shares of Molson Coors Beverage by 19.2% during the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company's stock valued at $475,886,000 after acquiring an additional 1,693,682 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Molson Coors Beverage by 317.9% in the second quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company's stock valued at $98,297,000 after acquiring an additional 1,554,851 shares during the period. M&T Bank Corp increased its stake in Molson Coors Beverage by 16,111.2% in the fourth quarter. M&T Bank Corp now owns 1,499,699 shares of the company's stock valued at $70,006,000 after acquiring an additional 1,490,448 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Molson Coors Beverage by 22.9% in the third quarter. Dimensional Fund Advisors LP now owns 6,425,043 shares of the company's stock valued at $290,741,000 after acquiring an additional 1,195,249 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Down 0.8%

Shares of Molson Coors Beverage stock opened at $38.60 on Thursday. The stock has a market capitalization of $7.24 billion, a P/E ratio of -3.63 and a beta of 0.41. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The company has a 50-day simple moving average of $42.50 and a 200 day simple moving average of $45.77. Molson Coors Beverage Company has a 12-month low of $38.35 and a 12-month high of $54.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.26. The business had revenue of $2.35 billion during the quarter, compared to analysts' expectations of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. Research analysts expect that Molson Coors Beverage Company will post 4.74 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.0%. Molson Coors Beverage's dividend payout ratio (DPR) is -18.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TAP. Morgan Stanley lowered their target price on shares of Molson Coors Beverage from $52.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 4th. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, April 27th. Weiss Ratings reissued a "sell (d)" rating on shares of Molson Coors Beverage in a research note on Friday, March 27th. BNP Paribas Exane lowered their target price on shares of Molson Coors Beverage from $36.00 to $35.00 and set an "underperform" rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company lowered their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $45.00.

Insider Transactions at Molson Coors Beverage

In other news, Director Andrew Thomas Molson bought 2,000 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $46.67 per share, for a total transaction of $93,340.00. Following the transaction, the director directly owned 24,654 shares of the company's stock, valued at $1,150,602.18. This trade represents a 8.83% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the sale, the director owned 9,871 shares of the company's stock, valued at $419,517.50. This trade represents a 11.20% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.27% of the company's stock.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada's Molson and the United States' Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.

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