USS Investment Management Ltd Cuts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

USS Investment Management Ltd lowered its holdings in shares of 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 quarter.

A number of other large investors also recently modified their holdings of the stock. Waverly Advisors LLC bought a new stake in Molson Coors Beverage during the fourth quarter worth $998,000. Wallace Capital Management Inc. boosted its holdings in shares of Molson Coors Beverage by 306.5% in the 4th quarter. Wallace Capital Management Inc. now owns 221,718 shares of the company's stock worth $12,709,000 after purchasing an additional 167,178 shares in the last quarter. Woodline Partners LP bought a new position in Molson Coors Beverage during the 4th quarter valued at approximately $601,000. iSAM Funds UK Ltd bought a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $639,000. Finally, Vident Advisory LLC grew its stake in shares of Molson Coors Beverage by 0.9% in the 4th quarter. Vident Advisory LLC now owns 39,487 shares of the company's stock worth $2,263,000 after buying an additional 352 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction on 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. The trade was a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.71% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded down $0.37 on Thursday, reaching $52.59. The stock had a trading volume of 910,818 shares, compared to its average volume of 2,139,367. The business's 50-day moving average price is $57.94 and its two-hundred day moving average price is $58.32. The stock has a market cap of $10.63 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66. 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 issued its quarterly earnings results on Thursday, May 8th. The company reported $0.50 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 analyst estimates of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, sell-side analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders 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 dividend on an annualized basis and a yield of 3.58%. Molson Coors Beverage's payout ratio is 37.83%.

Analysts Set New Price Targets

TAP has been the topic of several research analyst reports. Needham & Company LLC lowered their price target on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Finally, Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Eleven investment 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 stock currently has an average rating of "Hold" and a consensus target price of $63.26.

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.