Versant Capital Management Inc Has $336,000 Stock Position in Molson Coors Beverage (NYSE:TAP)

Versant Capital Management Inc lifted its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 1,002.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,523 shares of the company's stock after purchasing an additional 5,022 shares during the quarter. Versant Capital Management Inc's holdings in Molson Coors Beverage were worth $336,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TAP. DoubleLine ETF Adviser LP boosted its holdings in shares of Molson Coors Beverage by 1.7% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock valued at $590,000 after purchasing an additional 170 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Molson Coors Beverage by 7.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock valued at $168,000 after buying an additional 202 shares in the last quarter. Truvestments Capital LLC boosted its stake in Molson Coors Beverage by 51.4% in the fourth 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. SRS Capital Advisors Inc. grew its position in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after acquiring an additional 203 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Molson Coors Beverage by 0.4% during the fourth quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 78.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Berenberg Bank started coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target on the stock. UBS Group cut 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 research report on Friday, May 9th. Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Barclays dropped their price target on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Finally, Needham & Company LLC cut their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $63.26.

Molson Coors Beverage Trading Down 1.4%

TAP stock traded down $0.74 during trading on Monday, hitting $52.85. The company had a trading volume of 2,116,018 shares, compared to its average volume of 2,140,891. The stock has a market cap of $10.68 billion, a PE ratio of 9.88, a PEG ratio of 1.52 and a beta of 0.73. The business has a 50-day moving average of $57.72 and a 200-day moving average of $58.15. 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 one year low of $49.19 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $2.43 billion. During the same period in the prior year, the company posted $0.95 earnings per share. The company's revenue for the quarter was down 11.3% compared to the same quarter last year. Research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.56%. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.83%.

Insiders Place Their Bets

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 value of $75,034.57. Following the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.71% of the company's stock.

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.