Molson Coors Beverage Company $TAP Shares Sold by Entropy Technologies LP

Entropy Technologies LP lessened its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 51.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,618 shares of the company's stock after selling 60,321 shares during the period. Entropy Technologies LP's holdings in Molson Coors Beverage were worth $2,481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Gabelli Funds LLC grew its holdings in Molson Coors Beverage by 7.7% in the first quarter. Gabelli Funds LLC now owns 221,584 shares of the company's stock valued at $9,541,000 after purchasing an additional 15,783 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Molson Coors Beverage by 21.3% in the first quarter. Gamco Investors INC. ET AL now owns 100,608 shares of the company's stock valued at $4,332,000 after buying an additional 17,650 shares in the last quarter. Inceptionr LLC acquired a new position in shares of Molson Coors Beverage during the 1st quarter worth approximately $312,000. Sei Investments Co. raised its stake in shares of Molson Coors Beverage by 27.1% during the 1st quarter. Sei Investments Co. now owns 259,989 shares of the company's stock worth $11,195,000 after buying an additional 55,410 shares during the period. Finally, State of Wyoming lifted its position in shares of Molson Coors Beverage by 17.9% during the 1st quarter. State of Wyoming now owns 5,480 shares of the company's stock valued at $236,000 after buying an additional 833 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TAP shares. JPMorgan Chase & Co. dropped their price target on shares of Molson Coors Beverage from $45.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, April 27th. Wells Fargo & Company reduced their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. BNP Paribas Exane decreased their price objective on shares of Molson Coors Beverage from $36.00 to $35.00 and set an "underperform" rating on the stock in a report on Wednesday, June 3rd. Citigroup decreased their price objective on shares of Molson Coors Beverage from $47.00 to $42.00 and set a "neutral" rating on the stock in a report on Tuesday, July 14th. Finally, Sanford C. Bernstein dropped their target price on shares of 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. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $44.00.

Molson Coors Beverage Stock Up 0.1%

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

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.26. The company had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 EPS. Research analysts anticipate that Molson Coors Beverage Company will post 4.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

Insiders Place Their Bets

In other news, Director Geoffrey E. Molson sold 1,245 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the transaction, the director directly owned 9,871 shares in the company, valued at $419,517.50. The trade was a 11.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.27% of the stock is owned by company insiders.

About Molson Coors Beverage

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.

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage Company (NYSE:TAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.