AlphaStar Capital Management LLC Has $1.59 Million Holdings in Molson Coors Beverage Company (NYSE:TAP)

AlphaStar Capital Management LLC raised its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 27.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,162 shares of the company's stock after purchasing an additional 5,685 shares during the period. AlphaStar Capital Management LLC's holdings in Molson Coors Beverage were worth $1,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. DoubleLine ETF Adviser LP lifted its holdings in shares of Molson Coors Beverage by 1.7% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock valued at $590,000 after buying an additional 170 shares during the period. Truvestments Capital LLC increased its position in shares of 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 acquiring an additional 202 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Molson Coors Beverage by 0.4% during the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock valued at $2,809,000 after buying an additional 206 shares during the last quarter. Forum Financial Management LP raised its stake in Molson Coors Beverage by 4.4% during the fourth quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock valued at $299,000 after buying an additional 220 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Molson Coors Beverage by 3.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 7,014 shares of the company's stock valued at $402,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Insider Buying and Selling at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. 2.71% of the stock is owned by insiders.

Molson Coors Beverage Price Performance

NYSE TAP traded up $0.39 during trading on Tuesday, reaching $49.39. 2,429,366 shares of the company traded hands, compared to its average volume of 2,148,957. 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 stock's 50 day moving average price is $52.63 and its two-hundred day moving average price is $56.16. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 2.72 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.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its 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). Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm posted $0.95 EPS. The business's revenue was down 11.3% on a year-over-year basis. As a group, analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Wall Street Analyst Weigh In

Several analysts have recently commented on TAP shares. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Piper Sandler lowered their price target on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research note on Monday, June 23rd. Wells Fargo & Company decreased their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Finally, Barclays cut their target price 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 given a buy rating to the company's stock. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus price target 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.