Clark Estates Inc. NY Lowers Position in Molson Coors Beverage Company (NYSE:TAP)

Clark Estates Inc. NY lowered its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 27.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,728 shares of the company's stock after selling 14,787 shares during the period. Clark Estates Inc. NY's holdings in Molson Coors Beverage were worth $2,357,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC raised its stake in Molson Coors Beverage by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after buying an additional 290 shares during the last quarter. Millstone Evans Group LLC raised its stake in Molson Coors Beverage by 151.8% during the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after buying an additional 255 shares during the last quarter. Financial Management Professionals Inc. raised its stake in Molson Coors Beverage by 3,286.7% during the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after buying an additional 493 shares during the last quarter. Eastern Bank purchased a new position in Molson Coors Beverage during the first quarter valued at $33,000. Finally, CoreCap Advisors LLC raised its stake in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after buying an additional 643 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TAP. Sanford C. Bernstein lowered their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research note on Wednesday, July 9th. Wells Fargo & Company reduced their target price 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. Citigroup reduced their target price on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. JPMorgan Chase & Co. reduced their target price on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday. Finally, UBS Group reduced their target price on Molson Coors Beverage from $59.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $58.87.

Molson Coors Beverage Stock Performance

Shares of TAP stock traded down $0.50 on Friday, reaching $48.22. The stock had a trading volume of 3,089,468 shares, compared to its average volume of 2,433,450. The stock has a market cap of $9.75 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 2.96 and a beta of 0.69. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.59 and a current ratio of 0.89. The company has a 50 day simple moving average of $50.43 and a 200 day simple moving average of $55.36.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released 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). The firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.43 billion. Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The business's quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. Equities research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.9%. Molson Coors Beverage's payout ratio is 37.83%.

Insiders Place Their Bets

In related news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage 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 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.71% of the company's stock.

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.