Molson Coors Beverage Company $TAP Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 21.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,994,323 shares of the company's stock after selling 536,822 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.06% of Molson Coors Beverage worth $85,876,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. lifted its stake in shares of Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock worth $25,000 after purchasing an additional 244 shares during the period. Basepoint Wealth LLC acquired a new position in Molson Coors Beverage in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC lifted its position in Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock worth $27,000 after buying an additional 221 shares during the period. Larson Financial Group LLC boosted its stake in Molson Coors Beverage by 551.1% in the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company's stock worth $29,000 after buying an additional 518 shares during the last quarter. Finally, Clearstead Advisors LLC grew its holdings in Molson Coors Beverage by 223.0% in the 4th quarter. Clearstead Advisors LLC now owns 659 shares of the company's stock valued at $31,000 after buying an additional 455 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Insider Activity

In related news, Director Geoffrey E. Molson sold 1,245 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the transaction, the director owned 9,871 shares in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.27% of the company's stock.

Molson Coors Beverage Trading Up 0.1%

NYSE TAP opened at $40.98 on Monday. The stock has a market cap of $7.69 billion, a P/E ratio of -3.85 and a beta of 0.42. The company's fifty day simple moving average is $40.26 and its 200-day simple moving average is $44.06. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. Molson Coors Beverage Company has a 52 week low of $38.04 and a 52 week high of $54.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the business earned $0.50 EPS. The business's revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that Molson Coors Beverage Company will post 4.78 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 28th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, August 28th. Molson Coors Beverage's payout ratio is presently -18.05%.

Analysts Set New Price Targets

TAP has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, April 27th. Jefferies Financial Group lowered their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 in a research note on Friday, June 12th. Sanford C. Bernstein cut their target price on Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating on the stock in a research report on Tuesday, May 26th. Barclays lowered their price target on Molson Coors Beverage from $43.00 to $41.00 and set an "underweight" rating for the company in a research report on Friday, May 1st. Finally, Zacks Research upgraded Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a report on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $44.00.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada's Molson and the United States' Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.

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