USS Investment Management Ltd Trims Stock Position in Molson Coors Beverage (NYSE:TAP)

USS Investment Management Ltd lowered its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,300 shares of the company's stock after selling 5,400 shares during the period. USS Investment Management Ltd's holdings in Molson Coors Beverage were worth $2,196,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Merit Financial Group LLC purchased a new position in Molson Coors Beverage during the fourth quarter valued at $401,000. HB Wealth Management LLC purchased a new position in Molson Coors Beverage during the fourth quarter valued at $325,000. Sound Income Strategies LLC lifted its position in Molson Coors Beverage by 14.4% during the fourth quarter. Sound Income Strategies LLC now owns 95,292 shares of the company's stock valued at $5,462,000 after purchasing an additional 12,000 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in Molson Coors Beverage during the fourth quarter valued at $468,000. Finally, Fifth Third Bancorp lifted its position in Molson Coors Beverage by 5.0% during the fourth quarter. Fifth Third Bancorp now owns 8,875 shares of the company's stock valued at $509,000 after purchasing an additional 419 shares in the last quarter. Institutional investors 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 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 sale, the director now owns 27,595 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 2.71% of the stock is currently owned by company insiders.

Molson Coors Beverage Stock Performance

TAP traded up $0.16 during trading on Tuesday, reaching $54.17. The company's stock had a trading volume of 2,520,886 shares, compared to its average volume of 2,142,681. 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's fifty day moving average price is $58.15 and its 200-day moving average price is $58.39. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly 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 company 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 revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. On average, equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed 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. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's payout ratio is currently 37.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Berenberg Bank assumed coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective on the stock. Needham & Company LLC cut their target price 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, UBS Group cut their target price 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. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $63.26.

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.