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

Moody Aldrich Partners LLC purchased a new position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,756 shares of the company's stock, valued at approximately $1,750,000.

A number of other hedge funds have also recently added to or reduced their stakes in TAP. Proficio Capital Partners LLC purchased a new stake in Molson Coors Beverage during the fourth quarter worth $1,991,000. Private Trust Co. NA lifted its holdings in Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after purchasing an additional 276 shares in the last quarter. US Bancorp DE lifted its holdings in Molson Coors Beverage by 103.9% during the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after purchasing an additional 9,825 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Molson Coors Beverage by 463.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,593 shares of the company's stock valued at $147,000 after purchasing an additional 2,133 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after purchasing an additional 203 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction dated 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 directly owned 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 Securities & Exchange Commission, which is available at the SEC website. 2.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Needham & Company LLC decreased 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 report on Monday, May 12th. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Barclays decreased their price target on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Finally, Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $60.46.

Molson Coors Beverage Trading Down 1.0%

TAP stock traded down $0.48 during trading on Monday, reaching $48.96. 2,422,075 shares of the stock were exchanged, compared to its average volume of 2,147,835. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $52.78 and a 200-day moving average price of $56.23. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 9.85, a P/E/G ratio of 2.72 and a beta of 0.69.

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 for the quarter, missing analysts' consensus estimates 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 company had revenue of $2.30 billion for 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. Molson Coors Beverage's revenue was down 11.3% on a year-over-year basis. On average, research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Friday, June 6th. Molson Coors Beverage's dividend payout ratio is presently 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.