Lbp Am Sa Trims Stake in Molson Coors Beverage Company (NYSE:TAP)

LBP AM SA lessened its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 2.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,670 shares of the company's stock after selling 5,994 shares during the period. LBP AM SA owned 0.10% of Molson Coors Beverage worth $12,215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Personal CFO Solutions LLC raised its position in shares of Molson Coors Beverage by 11.6% in the first quarter. Personal CFO Solutions LLC now owns 5,109 shares of the company's stock worth $311,000 after buying an additional 532 shares in the last quarter. AlphaStar Capital Management LLC raised its position in shares of Molson Coors Beverage by 27.8% in the first quarter. AlphaStar Capital Management LLC now owns 26,162 shares of the company's stock worth $1,592,000 after buying an additional 5,685 shares in the last quarter. Hourglass Capital LLC raised its position in shares of Molson Coors Beverage by 13.6% in the first quarter. Hourglass Capital LLC now owns 27,645 shares of the company's stock worth $1,683,000 after buying an additional 3,300 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Molson Coors Beverage by 112.1% in the first quarter. Crossmark Global Holdings Inc. now owns 12,086 shares of the company's stock worth $736,000 after buying an additional 6,389 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Molson Coors Beverage by 16.8% during the first quarter. Envestnet Asset Management Inc. now owns 368,030 shares of the company's stock valued at $22,402,000 after purchasing an additional 52,971 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TAP shares. Berenberg Bank started coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target on the stock. Barclays lowered their price target on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Bank of America downgraded Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price target for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Roth Capital set a $71.00 price target on Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Needham & Company LLC lowered their price target on 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. Thirteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $60.12.

Molson Coors Beverage Trading Up 0.5%

Shares of NYSE TAP traded up $0.23 during midday trading on Friday, reaching $50.04. The company had a trading volume of 1,782,019 shares, compared to its average volume of 2,153,682. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 0.46. The firm's fifty day moving average price is $52.02 and its 200-day moving average price is $55.93. The stock has a market cap of $10.12 billion, a PE ratio of 10.07, a price-to-earnings-growth ratio of 2.76 and a beta of 0.69.

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 analysts' consensus estimates of $0.80 by ($0.30). The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The company's revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. On average, equities research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share 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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Friday, June 6th. Molson Coors Beverage's payout ratio is 37.83%.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the company'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 transaction of $75,034.57. Following the completion of the transaction, the director owned 27,595 shares of the company's stock, valued at $1,553,322.55. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.71% of the stock is owned by insiders.

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.