Carolina Wealth Advisors LLC Has $239,000 Position in Molson Coors Beverage Company (NYSE:TAP)

Carolina Wealth Advisors LLC lowered its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 59.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,933 shares of the company's stock after selling 5,810 shares during the period. Carolina Wealth Advisors LLC's holdings in Molson Coors Beverage were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Golden State Wealth Management LLC grew its position in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after acquiring an additional 290 shares during the period. Financial Management Professionals Inc. lifted its stake in Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after purchasing an additional 493 shares during the last quarter. Truvestments Capital LLC grew 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 purchasing an additional 202 shares during the period. CoreCap Advisors LLC increased its position 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. Finally, First Financial Corp IN bought a new stake in Molson Coors Beverage in the first quarter valued at approximately $37,000. Institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Needham & Company LLC dropped 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. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $65.00 to $50.00 in a research report on Friday. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, UBS Group lowered their price target on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $60.46.

Insider Activity 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 stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the sale, the director directly owned 27,595 shares of the company's stock, valued at $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 available through this link. Company insiders own 2.71% of the company's stock.

Molson Coors Beverage Price Performance

TAP stock traded up $0.99 during mid-day trading on Tuesday, hitting $49.08. The stock had a trading volume of 3,056,044 shares, compared to its average volume of 2,139,708. The firm has a fifty day simple moving average of $53.49 and a 200 day simple moving average of $56.50. The firm has a market capitalization of $9.92 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.78 and a beta of 0.72. 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 52 week low of $46.94 and a 52 week high of $64.66.

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 (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 analyst estimates of $2.43 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business's revenue was down 11.3% on a year-over-year basis. As a group, research analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.83%. 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.