UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 41,119 Shares of Molson Coors Beverage (NYSE:TAP)

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

Several other hedge funds have also modified their holdings of the stock. Truvestments Capital LLC increased its position in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the period. CoreCap Advisors LLC increased its stake in Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after purchasing an additional 643 shares in the last quarter. Quarry LP raised its holdings in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after acquiring an additional 254 shares during the period. Catalyst Capital Advisors LLC increased its holdings in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in Molson Coors Beverage by 38.6% during 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. 78.46% of the stock is owned by institutional investors.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the business'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 owns 27,595 shares of the company's stock, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.71% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Stock Performance

TAP stock traded up $0.71 during midday trading on Thursday, reaching $53.67. 2,621,366 shares of the company were exchanged, compared to its average volume of 2,146,005. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The business has a 50-day moving average price of $57.94 and a two-hundred day moving average price of $58.32. 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 (NYSE:TAP - Get Free Report) last announced its 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 return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm posted $0.95 EPS. The business's quarterly revenue was down 11.3% on a year-over-year basis. Equities research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

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 dividend of $0.47 per share. 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 (DPR) is currently 37.83%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. 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. UBS Group reduced their price target on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research 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 report on Wednesday, February 5th. Morgan Stanley reduced 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. Finally, Barclays decreased 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 research report on Monday, May 12th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.