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

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

Other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC grew 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 valued at $34,000 after acquiring an additional 202 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Molson Coors Beverage by 10,716.7% in the fourth 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. Quarry LP grew its holdings in shares of Molson Coors Beverage by 55.1% in the fourth quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after purchasing an additional 254 shares in the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings 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 purchasing an additional 203 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. Berenberg Bank assumed coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price for the company. Morgan Stanley cut 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, UBS Group cut their target price on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Eleven equities 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, Molson Coors Beverage currently has an average rating of "Hold" and a consensus price target of $63.26.

Molson Coors Beverage Trading Up 0.3%

Shares of NYSE:TAP traded up $0.16 on Tuesday, hitting $54.17. 2,520,886 shares of the company's stock were exchanged, compared to its average volume of 2,142,681. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66. The stock has a market capitalization of $10.95 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The business's 50 day simple moving average is $58.15 and its two-hundred day simple moving average is $58.39. 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 released its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share 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 business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $0.95 earnings per share. The firm's revenue for the quarter was down 11.3% compared to the same quarter last year. Analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders 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 annualized dividend and a dividend yield of 3.47%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction 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 transaction, the director now owns 27,595 shares in the company, valued at approximately $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.71% of the company's stock.

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.