Cambridge Investment Research Advisors Inc. Decreases Stake in Molson Coors Beverage Company (NYSE:TAP)

Cambridge Investment Research Advisors Inc. lessened its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 44.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TAP. Financial Management Professionals Inc. raised its holdings in Molson Coors Beverage by 3,286.7% during the 1st 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 increased its holdings in 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 buying an additional 202 shares during the last quarter. CoreCap Advisors LLC increased its holdings in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after buying an additional 643 shares during the last quarter. First Financial Corp IN bought a new position in Molson Coors Beverage during the first quarter worth $37,000. Finally, Quarry LP boosted its position in Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after purchasing an additional 254 shares during the period. Institutional investors own 78.46% of the company's stock.

Insider Transactions at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the firm'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 completion of the sale, the director owned 27,595 shares in the company, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.71% of the company's stock.

Molson Coors Beverage Stock Down 0.8%

NYSE TAP traded down $0.39 on Monday, reaching $49.05. The company had a trading volume of 365,760 shares, compared to its average volume of 2,139,874. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66. The stock has a market capitalization of $9.92 billion, a P/E ratio of 9.87, a P/E/G ratio of 2.72 and a beta of 0.69. The company's fifty day moving average is $52.78 and its 200 day moving average is $56.23. 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 posted its quarterly 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). Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company posted $0.95 EPS. Molson Coors Beverage's quarterly revenue was down 11.3% compared to the same quarter last year. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.83%. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Analysts Set New Price Targets

Several brokerages have commented on TAP. Berenberg Bank began coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price for the company. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Wells Fargo & Company reduced their price target on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Piper Sandler reduced their price target on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a report on Monday, June 23rd. Finally, Barclays reduced 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. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $60.46.

About Molson Coors Beverage

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.