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

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

A number of other hedge funds and other institutional investors have also made changes to their positions in TAP. Financial Management Professionals Inc. increased its position in shares of Molson Coors Beverage by 3,286.7% in the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after acquiring an additional 493 shares in the last quarter. Truvestments Capital LLC grew its stake in shares of Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after buying an additional 202 shares in the last quarter. First Financial Corp IN acquired a new position in shares of Molson Coors Beverage during the 1st quarter worth $37,000. CoreCap Advisors LLC raised its holdings in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after buying an additional 643 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after acquiring an additional 254 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Insider Transactions at Molson Coors Beverage

In related 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 transaction, the director now directly owns 27,595 shares of the company's stock, valued at $1,553,322.55. This trade represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.71% of the stock is owned by insiders.

Molson Coors Beverage Price Performance

TAP traded down $0.96 during midday trading on Friday, reaching $50.56. 1,993,774 shares of the company's stock were exchanged, compared to its average volume of 2,111,147. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $55.95 and a two-hundred day simple moving average of $57.54. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72. Molson Coors Beverage has a one year low of $49.38 and a one 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 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the firm earned $0.95 EPS. Molson Coors Beverage's quarterly revenue was down 11.3% compared to the same quarter last year. As a group, research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Morgan Stanley dropped their price target on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC reduced their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Barclays lowered their price objective 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. Finally, Berenberg Bank started 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 for the company. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and a consensus target price of $63.26.

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.