Molson Coors Beverage (NYSE:TAP) is Sage Capital Advisors llc's 10th Largest Position

Sage Capital Advisors llc decreased its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,761 shares of the company's stock after selling 14,316 shares during the quarter. Molson Coors Beverage comprises approximately 2.2% of Sage Capital Advisors llc's portfolio, making the stock its 10th biggest holding. Sage Capital Advisors llc owned about 0.07% of Molson Coors Beverage worth $8,264,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TAP. Norges Bank purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at $142,407,000. Fairfax Financial Holdings Ltd. Can purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at $68,010,000. Estuary Capital Management LP purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at $39,052,000. Freestone Grove Partners LP purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at $29,913,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at $27,660,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Berenberg Bank assumed coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target for the company. UBS Group decreased their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Needham & Company LLC decreased their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Finally, Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a research note on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $63.26.

Molson Coors Beverage Trading Down 0.3%

TAP traded down $0.15 on Friday, reaching $53.55. 3,500,587 shares of the company's stock were exchanged, compared to its average volume of 2,141,011. The company's 50 day moving average is $57.72 and its 200-day moving average is $58.18. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $0.95 EPS. The firm's revenue was down 11.3% compared to the same quarter last year. Equities analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the sale, the director now owns 27,595 shares of the company's stock, valued at $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.71% of the stock is owned by corporate insiders.

Molson Coors Beverage Profile

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.