Molson Coors Beverage (NYSE:TAP) Shares Acquired by NBC Securities Inc.

NBC Securities Inc. grew its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 120,600.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,242 shares of the company's stock after buying an additional 7,236 shares during the period. NBC Securities Inc.'s holdings in Molson Coors Beverage were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Randolph Co Inc grew its stake in Molson Coors Beverage by 26.2% during the fourth quarter. Randolph Co Inc now owns 477,187 shares of the company's stock worth $27,352,000 after purchasing an additional 98,984 shares during the period. HighTower Advisors LLC grew its stake in Molson Coors Beverage by 123.3% in the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock valued at $1,047,000 after acquiring an additional 10,080 shares during the period. US Bancorp DE grew its stake in Molson Coors Beverage by 103.9% in the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after acquiring an additional 9,825 shares during the period. Unified Investment Management acquired a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $871,000. Finally, Wilsey Asset Management Inc. grew its stake in Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock valued at $31,557,000 after acquiring an additional 8,679 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Insider Buying and Selling

In related 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 completion of the sale, the director now 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 document filed with the Securities & Exchange Commission, which is available at this link. 2.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TAP. Barclays dropped 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. Morgan Stanley dropped their target price on 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. Berenberg Bank began coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price on the stock. UBS Group dropped their target price on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of "Hold" and an average target price of $63.26.

Molson Coors Beverage Price Performance

Shares of TAP traded up $0.09 during mid-day trading on Friday, hitting $51.95. 1,910,668 shares of the company were exchanged, compared to its average volume of 2,127,254. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $64.66. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company has a 50 day moving average of $57.07 and a 200-day moving average of $57.94.

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 for the quarter, missing the consensus estimate of $0.80 by ($0.30). The firm had revenue of $2.30 billion during 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 period last year, the company earned $0.95 EPS. Analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.62%. Molson Coors Beverage's dividend payout ratio is currently 37.83%.

About Molson Coors Beverage

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.