Molson Coors Beverage (NYSE:TAP) Shares Sold by Sage Capital Advisors llc

Sage Capital Advisors llc cut its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,761 shares of the company's stock after selling 14,316 shares during the period. Molson Coors Beverage comprises 2.2% of Sage Capital Advisors llc's holdings, making the stock its 10th largest holding. Sage Capital Advisors llc owned approximately 0.07% of Molson Coors Beverage worth $8,264,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in Molson Coors Beverage by 5.0% in the 4th quarter. Fifth Third Bancorp now owns 8,875 shares of the company's stock valued at $509,000 after buying an additional 419 shares during the period. Blue Trust Inc. increased its stake in Molson Coors Beverage by 33.0% during the 4th quarter. Blue Trust Inc. now owns 3,926 shares of the company's stock valued at $226,000 after purchasing an additional 975 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Molson Coors Beverage by 0.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 287,159 shares of the company's stock valued at $16,460,000 after purchasing an additional 1,823 shares in the last quarter. Mediolanum International Funds Ltd increased its stake in Molson Coors Beverage by 55.3% during the 4th quarter. Mediolanum International Funds Ltd now owns 16,257 shares of the company's stock valued at $922,000 after purchasing an additional 5,791 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in Molson Coors Beverage during the 4th quarter valued at approximately $210,000. 78.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on TAP shares. Citigroup raised shares of 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 report on Wednesday, February 5th. Wall Street Zen downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. UBS Group decreased their price objective on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Roth Capital set a $71.00 price objective on shares of Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley cut their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $63.26.

Molson Coors Beverage Price Performance

TAP stock traded down $0.08 during trading on Tuesday, reaching $52.79. 964,475 shares of the company were exchanged, compared to its average volume of 2,136,467. The company has a market cap of $10.67 billion, a P/E ratio of 9.87, a PEG ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66. The stock's 50 day moving average price is $57.57 and its 200 day moving average price is $58.08. 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 released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the prior year, the firm posted $0.95 EPS. The firm's quarterly revenue was down 11.3% on a year-over-year basis. As a group, analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.47 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.56%. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the transaction, the director now directly owns 27,595 shares in the company, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.71% of the company's stock.

Molson Coors Beverage Company 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.