Lbp Am Sa Sells 5,994 Shares of Molson Coors Beverage Company (NYSE:TAP)

LBP AM SA trimmed its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,670 shares of the company's stock after selling 5,994 shares during the period. LBP AM SA owned about 0.10% of Molson Coors Beverage worth $12,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Molson Coors Beverage in the fourth quarter valued at approximately $142,407,000. Fairfax Financial Holdings Ltd. Can bought a new stake in Molson Coors Beverage in the 4th quarter valued at $68,010,000. KBC Group NV boosted its stake in Molson Coors Beverage by 269.1% in the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company's stock worth $75,329,000 after purchasing an additional 902,296 shares during the period. Estuary Capital Management LP bought a new position in Molson Coors Beverage during the 4th quarter worth about $39,052,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Molson Coors Beverage by 16.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock valued at $251,442,000 after purchasing an additional 595,203 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target for the company. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Barclays cut their price objective on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Thirteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $60.12.

Molson Coors Beverage Price Performance

Shares of TAP traded up $0.23 during mid-day trading on Friday, reaching $50.04. The company had a trading volume of 1,782,019 shares, compared to its average volume of 2,150,845. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 2.74 and a beta of 0.69. 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 company's 50 day simple moving average is $52.17 and its 200 day simple moving average is $56.01. 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 data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $0.95 EPS. The company's revenue was down 11.3% compared to the same quarter last year. Analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.76%. The ex-dividend date was Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.83%.

Insider Activity

In related news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction 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 sale, the director owned 27,595 shares of the company's stock, valued at $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 SEC, which is available through the SEC website. Insiders own 2.71% of the company's stock.

About Molson Coors Beverage

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.