Siemens Fonds Invest GmbH Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Siemens Fonds Invest GmbH bought a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 79,174 shares of the company's stock, valued at approximately $4,538,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DoubleLine ETF Adviser LP grew its position in Molson Coors Beverage by 1.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock worth $590,000 after acquiring an additional 170 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock worth $168,000 after acquiring an additional 202 shares during the last quarter. Truvestments Capital LLC increased its holdings in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after purchasing an additional 202 shares during the period. SRS Capital Advisors Inc. raised its holdings in Molson Coors Beverage by 38.6% in the 4th 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. Finally, ProShare Advisors LLC lifted its holdings in Molson Coors Beverage by 0.4% in the fourth quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after buying an additional 206 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction 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 sale, the director now directly owns 27,595 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Trading Up 1.3%

Shares of NYSE:TAP traded up $0.71 during trading hours on Thursday, hitting $53.67. 2,623,415 shares of the company's stock traded hands, compared to its average volume of 2,143,318. The business has a fifty day moving average price of $57.94 and a 200-day moving average price of $58.32. The firm has a market capitalization of $10.85 billion, a P/E ratio of 10.03, a price-to-earnings-growth 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 1 year low of $49.19 and a 1 year high of $64.66.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). The firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.43 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm's revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Equities analysts expect that Molson Coors Beverage 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 will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a $0.47 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.50%. Molson Coors Beverage's dividend payout ratio is presently 37.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TAP shares. Wall Street Zen cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. UBS Group lowered their target price on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Barclays reduced their target price on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. cut their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Finally, Roth Capital set a $71.00 price objective on shares of Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and an average target price of $63.26.

Molson Coors Beverage 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.