Rhumbline Advisers Has $22.17 Million Stake in Molson Coors Beverage (NYSE:TAP)

Rhumbline Advisers boosted its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 364,283 shares of the company's stock after purchasing an additional 39,977 shares during the quarter. Rhumbline Advisers owned about 0.18% of Molson Coors Beverage worth $22,174,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TAP. Geode Capital Management LLC grew its holdings in Molson Coors Beverage by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock valued at $245,308,000 after purchasing an additional 54,867 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Molson Coors Beverage by 4.2% in the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock worth $217,200,000 after acquiring an additional 152,622 shares during the period. Dimensional Fund Advisors LP grew its position in Molson Coors Beverage by 12.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company's stock valued at $215,146,000 after buying an additional 422,515 shares in the last quarter. Bank of New York Mellon Corp grew its position in Molson Coors Beverage by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock valued at $202,661,000 after buying an additional 434,250 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Molson Coors Beverage during the 4th quarter valued at about $142,407,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 0.2%

Shares of Molson Coors Beverage stock traded up $0.09 on Monday, hitting $52.09. 2,395,488 shares of the company's stock traded hands, compared to its average volume of 2,128,433. 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 one year low of $49.19 and a one year high of $64.66. The firm's 50-day moving average price is $56.68 and its two-hundred day moving average price is $57.78. The stock has a market capitalization of $10.53 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Molson Coors Beverage's revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. On average, research analysts expect that Molson Coors Beverage will post 6.35 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, June 20th. Stockholders of record on Friday, June 6th will be paid 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 3.61%. Molson Coors Beverage's dividend payout ratio is 37.83%.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction that occurred on 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 $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 SEC, which is available at this hyperlink. 2.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TAP shares. Wall Street Zen cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. UBS Group dropped their price target on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Morgan Stanley dropped their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. 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. Finally, Barclays reduced their target price on 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. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average 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.