Waverly Advisors LLC Acquires Shares of 17,407 Molson Coors Beverage (NYSE:TAP)

Waverly Advisors LLC purchased a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,407 shares of the company's stock, valued at approximately $998,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Truvestments Capital LLC increased its stake in Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after acquiring an additional 202 shares during the last quarter. CoreCap Advisors LLC increased its stake in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after acquiring an additional 643 shares during the last quarter. Quarry LP increased its stake in 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 last quarter. Catalyst Capital Advisors LLC increased its stake in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after acquiring an additional 428 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in shares of 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 buying an additional 203 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.71% of the company's stock.

Molson Coors Beverage Stock Down 0.8%

TAP traded down $0.41 on Thursday, hitting $52.55. 910,818 shares of the company were exchanged, compared to its average volume of 2,139,367. The company has a market cap of $10.62 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $57.94 and a two-hundred day moving average price of $58.32. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). The business had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm's quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. On average, equities analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm 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 dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of research reports. 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 dropped their price objective 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. UBS Group dropped their price objective on 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. JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. Finally, Citigroup raised 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 note on Wednesday, February 5th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently 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.