Molson Coors Beverage Company $TAP Shares Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lifted its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 151.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,028 shares of the company's stock after acquiring an additional 37,406 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Molson Coors Beverage were worth $3,776,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage by 230.2% during 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 in the last quarter. Millstone Evans Group LLC lifted its holdings in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 255 shares in the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Molson Coors Beverage by 3,286.7% during the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after acquiring an additional 493 shares in the last quarter. Eastern Bank acquired a new position in shares of Molson Coors Beverage during the 1st quarter valued at $33,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after acquiring an additional 643 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

TAP opened at $51.42 on Monday. The company has a 50-day moving average of $49.78 and a 200-day moving average of $54.99. The company has a market capitalization of $10.40 billion, a P/E ratio of 10.14, a PEG ratio of 1.87 and a beta of 0.67. 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 0.67 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.22. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company's revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.92 EPS. Equities analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Insider Buying and Selling at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the business'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 of the company's stock, valued at $1,553,322.55. This represents a 4.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. Citigroup cut their price objective on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. UBS Group cut their price objective on shares of Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Sanford C. Bernstein cut their price objective on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a report on Wednesday, July 9th. Finally, Evercore ISI cut their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday, August 6th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $58.12.

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.

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