QSM Asset Management Ltd Buys Shares of 117,039 Molson Coors Beverage (NYSE:TAP)

QSM Asset Management Ltd bought a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 117,039 shares of the company's stock, valued at approximately $6,693,000. Molson Coors Beverage makes up about 5.8% of QSM Asset Management Ltd's portfolio, making the stock its 10th largest holding. QSM Asset Management Ltd owned approximately 0.06% of Molson Coors Beverage as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC increased its stake in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares in the last quarter. CoreCap Advisors LLC increased its stake in shares of Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after purchasing an additional 643 shares in the last quarter. Quarry LP increased its stake in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after purchasing an additional 254 shares in the last quarter. Catalyst Capital Advisors LLC increased its stake in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 1.3%

Shares of Molson Coors Beverage stock traded up $0.71 on Thursday, reaching $53.67. 2,623,415 shares of the company were exchanged, compared to its average volume of 2,143,318. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 1.52 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $57.94 and a 200 day moving average of $58.32.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. On average, equities research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm 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 $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Analyst Upgrades and Downgrades

TAP has been the topic of several recent analyst reports. Barclays decreased their target price on shares of 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. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Roth Capital set a $71.00 price objective on shares of Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. UBS Group decreased their price objective on shares of 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, Needham & Company LLC cut their target price 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. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $63.26.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage 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 completion of the sale, the director now directly owns 27,595 shares in the company, valued at $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.71% of the company's stock.

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.