Moody Aldrich Partners LLC Acquires New Holdings in Molson Coors Beverage Company (NYSE:TAP)

Moody Aldrich Partners LLC bought a new position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 28,756 shares of the company's stock, valued at approximately $1,750,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new stake in Molson Coors Beverage in the fourth quarter valued at $68,010,000. KBC Group NV raised its position in Molson Coors Beverage by 269.1% during the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company's stock worth $75,329,000 after purchasing an additional 902,296 shares during the last quarter. Estuary Capital Management LP acquired a new position in Molson Coors Beverage during the 4th quarter worth about $39,052,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Molson Coors Beverage in the 4th quarter valued at about $29,913,000. 78.46% of the stock is owned by institutional investors.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the transaction, the director directly owned 27,595 shares of the company's stock, valued at $1,553,322.55. This 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 through this link. 2.71% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Trading Down 0.4%

NYSE:TAP opened at $49.37 on Friday. The firm has a fifty day simple moving average of $52.93 and a two-hundred day simple moving average of $56.33. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The stock has a market capitalization of $9.98 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.72 and a beta of 0.69. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its 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). Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. The business's quarterly revenue was down 11.3% on a year-over-year basis. Analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.81%. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays lowered their price objective on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Wells Fargo & Company decreased their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. 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. Needham & Company LLC reduced their price objective on shares of 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, Morgan Stanley decreased their price objective on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Molson Coors Beverage presently has an average rating of "Hold" and an average target price of $60.46.

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.

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