Vontobel Holding Ltd. Buys 86,441 Shares of Molson Coors Beverage Company (NYSE:TAP)

Vontobel Holding Ltd. increased its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 65.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,449 shares of the company's stock after purchasing an additional 86,441 shares during the period. Vontobel Holding Ltd. owned 0.11% of Molson Coors Beverage worth $13,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DoubleLine ETF Adviser LP boosted its position in Molson Coors Beverage by 1.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock worth $590,000 after acquiring an additional 170 shares during the last quarter. Truvestments Capital LLC lifted its stake in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after acquiring an additional 203 shares in the last quarter. ProShare Advisors LLC increased its stake in Molson Coors Beverage by 0.4% during the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after buying an additional 206 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of Molson Coors Beverage by 21.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock worth $71,000 after acquiring an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the business'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 transaction, the director owned 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TAP shares. Barclays dropped their target price on shares of 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. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. 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 report on Friday, June 27th. Piper Sandler dropped their price target on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, June 23rd. Finally, Needham & Company LLC reduced their price objective on 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. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $60.46.

Molson Coors Beverage Stock Up 1.0%

TAP traded up $0.47 during trading on Wednesday, reaching $49.54. 2,909,387 shares of the stock traded hands, compared to its average volume of 2,144,170. The stock's 50-day simple moving average is $53.30 and its two-hundred day simple moving average is $56.45. 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 $46.94 and a fifty-two week high of $64.66. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of 9.97, a price-to-earnings-growth ratio of 2.63 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results 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). The company 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%. Molson Coors Beverage's quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. As a group, equities research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.79%. Molson Coors Beverage's payout ratio is 37.83%.

Molson Coors Beverage Company 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.