Molson Coors Beverage Company (NYSE:TAP) Shares Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Molson Coors Beverage Company by 35.4%, acquiring an additional 45,884 shares and taking ownership to 175,370 shares valued at approximately $10.67 million.
• Several other institutional investors also boosted their holdings in the company, with Golden State Wealth Management and Financial Management Professionals increasing their stakes by 230.2% and 3,286.7% respectively during the first quarter.
• Molson Coors Beverage has been rated mostly as a "hold" by analysts, with an average price target of $59.26, after reporting earnings that missed consensus estimates for the recent quarter.

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 35.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,370 shares of the company's stock after buying an additional 45,884 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.09% of Molson Coors Beverage worth $10,675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Golden State Wealth Management LLC grew its holdings in Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after buying an additional 290 shares during the period. Millstone Evans Group LLC grew its holdings in Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after buying an additional 255 shares during the period. Financial Management Professionals Inc. grew its holdings in Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after buying an additional 493 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Molson Coors Beverage by 10,716.7% in the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after purchasing an additional 643 shares in the last quarter. Finally, First Financial Corp IN acquired a new position in shares of Molson Coors Beverage in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a research note on Tuesday, May 20th. Barclays reduced their price objective on Molson Coors Beverage from $57.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Citigroup reduced their price objective on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 9th. Finally, Bank of America lowered Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and a consensus price target of $59.26.

Molson Coors Beverage Stock Up 0.9%

TAP stock traded up $0.45 during midday trading on Tuesday, hitting $50.37. 368,587 shares of the company's stock were exchanged, compared to its average volume of 2,401,042. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a 12-month low of $46.94 and a 12-month high of $64.66. The firm has a 50 day moving average price of $50.80 and a 200-day moving average price of $55.47. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 2.84 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly 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). Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm posted $0.95 earnings per share. Molson Coors Beverage's revenue was down 11.3% compared to the same quarter last year. On average, analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be issued a $0.47 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.73%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Insider Buying and Selling at Molson Coors Beverage

In other 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 value of $75,034.57. Following the completion of the sale, the director directly owned 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.