UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Position in Molson Coors Beverage (NYSE:TAP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,141,390 shares of the company's stock after selling 41,119 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.55% of Molson Coors Beverage worth $65,424,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Randolph Co Inc grew its position in shares of Molson Coors Beverage by 26.2% in the fourth quarter. Randolph Co Inc now owns 477,187 shares of the company's stock valued at $27,352,000 after purchasing an additional 98,984 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Molson Coors Beverage by 123.3% in the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock valued at $1,047,000 after acquiring an additional 10,080 shares during the last quarter. US Bancorp DE grew its stake in shares of Molson Coors Beverage by 103.9% in the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock worth $1,106,000 after purchasing an additional 9,825 shares during the last quarter. Unified Investment Management purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $871,000. Finally, Wilsey Asset Management Inc. lifted its position in Molson Coors Beverage by 1.6% during the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock valued at $31,557,000 after buying an additional 8,679 shares during the period. Institutional investors own 78.46% of the company's stock.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was 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 approximately $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.71% of the stock is currently owned by insiders.

Molson Coors Beverage Stock Down 0.7%

Shares of Molson Coors Beverage stock traded down $0.39 during trading on Friday, reaching $53.31. The company's stock had a trading volume of 562,298 shares, compared to its average volume of 2,137,208. 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 company has a market cap of $10.78 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 1.52 and a beta of 0.73. The company has a 50-day simple moving average of $57.83 and a two-hundred day simple moving average of $58.28. 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 released its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (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 firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $0.95 earnings per share. Molson Coors Beverage's revenue was down 11.3% on a year-over-year basis. As a group, equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's payout ratio is presently 37.83%.

Analyst Upgrades and Downgrades

TAP has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. UBS Group dropped their price objective on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Barclays reduced their price target 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. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $63.26.

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.