Janney Montgomery Scott LLC Has $1.44 Million Holdings in Molson Coors Beverage Company (NYSE:TAP)

Janney Montgomery Scott LLC increased its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 86.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,681 shares of the company's stock after purchasing an additional 10,958 shares during the period. Janney Montgomery Scott LLC's holdings in Molson Coors Beverage were worth $1,442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Molson Coors Beverage by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock valued at $245,308,000 after acquiring an additional 54,867 shares in the last quarter. Invesco Ltd. lifted its position in shares of Molson Coors Beverage by 4.2% in the fourth quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock worth $217,200,000 after purchasing an additional 152,622 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Molson Coors Beverage by 12.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company's stock worth $215,146,000 after purchasing an additional 422,515 shares during the period. Bank of New York Mellon Corp grew its position in Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock valued at $202,661,000 after purchasing an additional 434,250 shares in the last quarter. Finally, Norges Bank purchased a new position in Molson Coors Beverage during the fourth quarter valued at approximately $142,407,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TAP shares. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Wall Street Zen downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. 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 report on Monday, May 12th. Bank of America downgraded Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their target price for the company from $65.00 to $50.00 in a research note on Friday. Finally, Needham & Company LLC dropped their target price 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. Twelve analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and an average target price of $60.46.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded up $0.99 during trading hours on Tuesday, reaching $49.08. 3,076,592 shares of the company were exchanged, compared to its average volume of 2,141,109. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average of $53.30 and a 200 day moving average of $56.45. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 2.63 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the company posted $0.95 earnings per share. Molson Coors Beverage's quarterly revenue was down 11.3% on a year-over-year basis. As a group, 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 company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction dated 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 directly owned 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.71% of the company's stock.

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.