Mn Services Vermogensbeheer B.V. Has $4.10 Million Stock Holdings in Molson Coors Beverage Company (NYSE:TAP)

Mn Services Vermogensbeheer B.V. lessened its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,289 shares of the company's stock after selling 7,400 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Molson Coors Beverage were worth $4,096,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TAP. Norges Bank acquired a new position in Molson Coors Beverage in the 4th quarter valued at approximately $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new position in Molson Coors Beverage in the 4th quarter valued at approximately $68,010,000. Estuary Capital Management LP acquired a new position in shares of Molson Coors Beverage during the 4th quarter worth $39,052,000. Freestone Grove Partners LP acquired a new position in shares of Molson Coors Beverage during the 4th quarter worth $29,913,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Molson Coors Beverage during the 4th quarter worth $27,660,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Berenberg Bank assumed 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 on the stock. Needham & Company LLC dropped their price target on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Morgan Stanley dropped their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Finally, Barclays dropped their price target on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $63.26.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the transaction, the director now directly owns 27,595 shares of the company's stock, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.71% of the stock is owned by insiders.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $49.32 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.59. Molson Coors Beverage Company has a fifty-two week low of $49.29 and a fifty-two week high of $64.66. The firm has a fifty day moving average price of $55.56 and a two-hundred day moving average price of $57.37. The company has a market cap of $9.97 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 1.85 and a beta of 0.72.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $0.95 earnings per share. Molson Coors Beverage's revenue for the quarter was down 11.3% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's payout ratio is 37.83%.

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.

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