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

QSM Asset Management Ltd acquired a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 117,039 shares of the company's stock, valued at approximately $6,693,000. Molson Coors Beverage comprises about 5.8% of QSM Asset Management Ltd's investment portfolio, making the stock its 10th biggest position. QSM Asset Management Ltd owned approximately 0.06% of Molson Coors Beverage as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in shares of Molson Coors Beverage by 5.0% during the 4th quarter. Fifth Third Bancorp now owns 8,875 shares of the company's stock worth $509,000 after buying an additional 419 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Molson Coors Beverage by 33.0% during the 4th quarter. Blue Trust Inc. now owns 3,926 shares of the company's stock valued at $226,000 after acquiring an additional 975 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Molson Coors Beverage by 0.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 287,159 shares of the company's stock worth $16,460,000 after acquiring an additional 1,823 shares in the last quarter. Mediolanum International Funds Ltd grew its holdings in Molson Coors Beverage by 55.3% in the fourth quarter. Mediolanum International Funds Ltd now owns 16,257 shares of the company's stock worth $922,000 after purchasing an additional 5,791 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in Molson Coors Beverage in the fourth quarter worth $210,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 0.3%

Shares of NYSE TAP traded down $0.15 during trading on Friday, hitting $53.55. The stock had a trading volume of 3,500,587 shares, compared to its average volume of 2,147,742. The firm has a fifty day moving average of $57.72 and a two-hundred day moving average of $58.22. The company has a market capitalization of $10.83 billion, a PE ratio of 10.01, a PEG ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data 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). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The company's revenue for the quarter was down 11.3% on a year-over-year basis. As a group, equities research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, June 6th. Molson Coors Beverage's dividend payout ratio is presently 37.83%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TAP. UBS Group dropped 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. Roth Capital set a $71.00 price target on Molson Coors Beverage and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Berenberg Bank assumed coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective for the company. Finally, Morgan Stanley cut their target price on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $63.26.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the firm's 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.71% of the stock is currently owned by company insiders.

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.