Robeco Institutional Asset Management B.V. Grows Stake in Molson Coors Beverage Company (NYSE:TAP)

Robeco Institutional Asset Management B.V. raised its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 131.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 664,550 shares of the company's stock after purchasing an additional 377,391 shares during the period. Robeco Institutional Asset Management B.V. owned 0.33% of Molson Coors Beverage worth $40,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Golden State Wealth Management LLC boosted its stake in shares of Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after purchasing an additional 290 shares in the last quarter. Financial Management Professionals Inc. lifted its holdings in Molson Coors Beverage by 3,286.7% in the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after buying an additional 493 shares during the period. Truvestments Capital LLC boosted its position in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after acquiring an additional 643 shares during the period. Finally, First Financial Corp IN bought a new position in shares of Molson Coors Beverage in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction that occurred on 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 directly owned 27,595 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. 2.71% of the stock is currently owned by insiders.

Molson Coors Beverage Stock Up 2.1%

TAP stock traded up $0.99 during midday trading on Tuesday, hitting $49.08. The company's stock had a trading volume of 3,076,592 shares, compared to its average volume of 2,141,109. The firm's 50-day moving average is $53.30 and its 200-day moving average is $56.45. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The company has a market cap of $9.92 billion, a PE ratio of 9.88, a P/E/G ratio of 2.63 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced 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 net margin of 7.74% and a return on equity of 8.59%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company's revenue for the quarter was down 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Friday, June 6th. Molson Coors Beverage's dividend payout ratio is currently 37.83%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TAP shares. Needham & Company LLC reduced their price target 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. Wall Street Zen cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Wells Fargo & Company decreased their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. UBS Group dropped their price objective on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, Barclays cut their price objective on shares of 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. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $60.46.

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.