Alpha Omega Wealth Management LLC Acquires 11,253 Shares of Molson Coors Beverage (NYSE:TAP)

Alpha Omega Wealth Management LLC lifted its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 15.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,002 shares of the company's stock after buying an additional 11,253 shares during the period. Molson Coors Beverage makes up approximately 1.0% of Alpha Omega Wealth Management LLC's portfolio, making the stock its 28th biggest holding. Alpha Omega Wealth Management LLC's holdings in Molson Coors Beverage were worth $4,991,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Financial Management Professionals Inc. lifted its stake in Molson Coors Beverage by 3,286.7% in the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after purchasing an additional 493 shares during the last quarter. Truvestments Capital LLC raised its holdings in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after acquiring an additional 202 shares during the period. CoreCap Advisors LLC raised its holdings in Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after acquiring an additional 643 shares during the period. First Financial Corp IN bought a new stake in Molson Coors Beverage during the 1st quarter valued at $37,000. Finally, Quarry LP raised its holdings in Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Down 1.9%

NYSE TAP traded down $0.96 during trading on Friday, hitting $50.56. 1,993,774 shares of the company's stock traded hands, compared to its average volume of 2,111,147. The stock has a fifty day moving average of $55.95 and a two-hundred day moving average of $57.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 12-month low of $49.38 and a 12-month high of $64.66. The firm has a market cap of $10.22 billion, a P/E ratio of 9.45, a PEG ratio of 1.52 and a beta of 0.72.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.43 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business's quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 earnings per share. As a group, sell-side analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

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 issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.72%. Molson Coors Beverage's dividend payout ratio is currently 37.83%.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the sale, the director now directly owns 27,595 shares in the company, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TAP shares. Berenberg Bank started coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price on the stock. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. UBS Group lowered their target price on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Barclays decreased their price target on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Finally, Morgan Stanley decreased 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 report on Friday, May 9th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $63.26.

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.