Molson Coors Beverage Company (NYSE:TAP) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 5.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 106,066 shares of the company's stock after selling 5,750 shares during the period. DekaBank Deutsche Girozentrale owned about 0.05% of Molson Coors Beverage worth $6,343,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Personal CFO Solutions LLC grew its holdings in Molson Coors Beverage by 11.6% in the first quarter. Personal CFO Solutions LLC now owns 5,109 shares of the company's stock valued at $311,000 after purchasing an additional 532 shares during the last quarter. AlphaStar Capital Management LLC grew its holdings in Molson Coors Beverage by 27.8% in the first quarter. AlphaStar Capital Management LLC now owns 26,162 shares of the company's stock valued at $1,592,000 after purchasing an additional 5,685 shares during the last quarter. Hourglass Capital LLC boosted its stake in shares of Molson Coors Beverage by 13.6% during the first quarter. Hourglass Capital LLC now owns 27,645 shares of the company's stock valued at $1,683,000 after acquiring an additional 3,300 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Molson Coors Beverage by 112.1% during the first quarter. Crossmark Global Holdings Inc. now owns 12,086 shares of the company's stock valued at $736,000 after acquiring an additional 6,389 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Molson Coors Beverage by 16.8% during the first quarter. Envestnet Asset Management Inc. now owns 368,030 shares of the company's stock valued at $22,402,000 after acquiring an additional 52,971 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $50.04 on Friday. The stock's 50-day moving average is $52.02 and its 200-day moving average is $55.95. The company has a market cap of $10.12 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 2.75 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.59. 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 released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 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 revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. Equities analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.76%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the 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 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 Securities & Exchange Commission, which can be accessed through this link. 2.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Sanford C. Bernstein decreased their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday. Barclays decreased their price objective on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. UBS Group decreased their price objective on 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. Piper Sandler decreased their price objective on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating on the stock in a research note on Monday, June 23rd. Finally, Needham & Company LLC decreased their price objective 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. Thirteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $60.12.

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.

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