Mn Services Vermogensbeheer B.V. Lowers Position in Molson Coors Beverage Company (NYSE:TAP)

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

Several other institutional investors and hedge funds have also bought and sold shares of the company. Optas LLC purchased a new position in Molson Coors Beverage in the first quarter worth about $213,000. Sound Income Strategies LLC lifted its position in shares of Molson Coors Beverage by 6.7% during the 1st quarter. Sound Income Strategies LLC now owns 101,721 shares of the company's stock valued at $6,192,000 after buying an additional 6,429 shares in the last quarter. Wilsey Asset Management Inc. lifted its position in shares of Molson Coors Beverage by 0.8% during the 1st quarter. Wilsey Asset Management Inc. now owns 554,682 shares of the company's stock valued at $33,764,000 after buying an additional 4,143 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Molson Coors Beverage by 23.3% during the 1st quarter. Fifth Third Bancorp now owns 10,939 shares of the company's stock valued at $666,000 after buying an additional 2,064 shares in the last quarter. Finally, Baker Ellis Asset Management LLC lifted its position in shares of Molson Coors Beverage by 2.4% during the 1st quarter. Baker Ellis Asset Management LLC now owns 148,358 shares of the company's stock valued at $9,031,000 after buying an additional 3,536 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,333 shares of the 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 of the company's stock, valued at $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.71% of the stock is currently owned by insiders.

Molson Coors Beverage Trading Down 1.6%

TAP traded down $0.78 during trading on Friday, reaching $48.03. The company had a trading volume of 4,635,495 shares, compared to its average volume of 2,115,018. The stock has a market cap of $9.71 billion, a P/E ratio of 9.66, a PEG ratio of 1.79 and a beta of 0.72. The business has a 50 day simple moving average of $54.85 and a 200-day simple moving average of $57.10. Molson Coors Beverage Company has a 52 week low of $47.83 and a 52 week 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.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, June 6th. Molson Coors Beverage's payout ratio is presently 37.83%.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of analyst reports. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley lowered their price objective on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. UBS Group lowered their price target on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. 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 report on Monday, May 12th. Finally, Berenberg Bank started coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target on the stock. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and a consensus price target of $63.26.

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.