Cambridge Investment Research Advisors Inc. Sells 12,711 Shares of Molson Coors Beverage Company (NYSE:TAP)

Cambridge Investment Research Advisors Inc. trimmed its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 44.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,856 shares of the company's stock after selling 12,711 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Molson Coors Beverage were worth $965,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of TAP. Autumn Glory Partners LLC acquired a new position in Molson Coors Beverage during the 1st quarter worth approximately $264,000. Institute for Wealth Management LLC. acquired a new position in Molson Coors Beverage during the 1st quarter worth approximately $206,000. State of Alaska Department of Revenue boosted its position in Molson Coors Beverage by 281.9% during the 1st quarter. State of Alaska Department of Revenue now owns 76,073 shares of the company's stock worth $4,629,000 after acquiring an additional 56,155 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in Molson Coors Beverage during the 1st quarter worth approximately $3,142,000. Finally, Clarius Group LLC acquired a new position in Molson Coors Beverage during the 1st quarter worth approximately $446,000. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Performance

TAP stock traded up $0.20 during trading hours on Wednesday, hitting $49.58. 2,234,658 shares of the stock were exchanged, compared to its average volume of 2,150,744. 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 firm has a market capitalization of $10.02 billion, a P/E ratio of 9.98, a P/E/G ratio of 2.73 and a beta of 0.69. The company has a 50-day simple moving average of $52.32 and a two-hundred day simple moving average of $56.07. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66.

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 for the quarter, missing the consensus estimate of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The firm's quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. On average, 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 company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Friday, June 6th. Molson Coors Beverage's payout ratio is 37.83%.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction on Wednesday, May 21st. The stock was 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 $1,553,322.55. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.71% of the stock is owned by insiders.

Analysts Set New Price Targets

TAP has been the subject of a number of recent research reports. UBS Group reduced their price target on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Bank of America downgraded Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their price objective for the company from $65.00 to $50.00 in a report on Friday, June 27th. Wells Fargo & Company cut their price objective on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley cut their price objective on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Thirteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $60.12.

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.