Signet Financial Management LLC Takes Position in Molson Coors Beverage (NYSE:TAP)

Signet Financial Management LLC acquired a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,549 shares of the company's stock, valued at approximately $338,000.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new stake in Molson Coors Beverage during the 4th quarter valued at approximately $68,010,000. Estuary Capital Management LP bought a new position in Molson Coors Beverage during the 4th quarter worth approximately $39,052,000. Freestone Grove Partners LP acquired a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $29,913,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Molson Coors Beverage in the 4th quarter valued at $27,660,000. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Down 1.9%

NYSE TAP traded down $0.96 during trading hours on Friday, hitting $50.56. The company's stock had a trading volume of 1,993,774 shares, compared to its average volume of 2,113,295. The company has a market capitalization of $10.22 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $64.66. The company's 50-day simple moving average is $56.11 and its two-hundred day simple moving average is $57.64.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its 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). The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's dividend payout ratio is 37.83%.

Analyst Ratings Changes

TAP has been the topic of several recent analyst reports. UBS Group dropped their target price 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. Barclays dropped their price objective on 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. Needham & Company LLC decreased their target price on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Finally, Berenberg Bank assumed coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price on the stock. Eleven investment 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.com, the company currently has an average rating of "Hold" and a consensus price target of $63.26.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the sale, the director now directly owns 27,595 shares of the company's stock, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.