Molson Coors Beverage Company $TAP Stake Reduced by First Trust Advisors LP

First Trust Advisors LP cut its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 83.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,284 shares of the company's stock after selling 471,664 shares during the period. First Trust Advisors LP's holdings in Molson Coors Beverage were worth $3,974,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its position in shares of Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock worth $25,000 after acquiring an additional 244 shares during the last quarter. Basepoint Wealth LLC acquired a new stake in shares of Molson Coors Beverage in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC increased its holdings in shares of Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock worth $27,000 after acquiring an additional 221 shares during the period. Larson Financial Group LLC lifted its position in Molson Coors Beverage by 551.1% in the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company's stock valued at $29,000 after purchasing an additional 518 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its position 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 purchasing an additional 455 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the sale, the director directly owned 9,871 shares of the company's stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.27% of the company's stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $41.89 on Thursday. The stock has a market cap of $7.86 billion, a P/E ratio of -3.94 and a beta of 0.42. The firm's 50-day simple moving average is $40.23 and its 200 day simple moving average is $43.70. Molson Coors Beverage Company has a fifty-two week low of $38.04 and a fifty-two week high of $54.82. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders 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 4.6%. The ex-dividend date is Friday, August 28th. Molson Coors Beverage's payout ratio is -18.05%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. TD Cowen raised shares of Molson Coors Beverage to a "hold" rating in a research note on Friday, June 26th. Zacks Research upgraded shares of Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Wells Fargo & Company cut their price target on Molson Coors Beverage from $43.00 to $41.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. BNP Paribas Exane reduced their price objective on Molson Coors Beverage from $36.00 to $35.00 and set an "underperform" rating for the company in a research report on Wednesday, June 3rd. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Molson Coors Beverage in a report on Wednesday, June 24th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, Molson Coors Beverage has an average rating of "Hold" and a consensus price target of $44.00.

Molson Coors Beverage 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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