Molson Coors Beverage Company (NYSE:TAP) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 17.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,646 shares of the company's stock after selling 10,681 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Molson Coors Beverage were worth $3,083,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Molson Coors Beverage by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock worth $245,308,000 after acquiring an additional 54,867 shares in the last quarter. Invesco Ltd. increased its position in shares of Molson Coors Beverage by 4.2% in the fourth quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock worth $217,200,000 after acquiring an additional 152,622 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Molson Coors Beverage by 12.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company's stock worth $215,146,000 after acquiring an additional 422,515 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Molson Coors Beverage by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock worth $202,661,000 after acquiring an additional 434,250 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter worth $142,407,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.71% of the stock is currently owned by insiders.

Molson Coors Beverage Stock Up 0.5%

NYSE TAP traded up $0.24 during trading hours on Friday, reaching $47.48. 3,321,802 shares of the company traded hands, compared to its average volume of 2,130,823. Molson Coors Beverage Company has a 12 month low of $46.94 and a 12 month high of $64.66. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $9.60 billion, a PE ratio of 9.55, a PEG ratio of 1.76 and a beta of 0.72. The company has a 50 day moving average of $53.69 and a two-hundred day moving average of $56.65.

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 7.74% and a return on equity of 8.59%. The company 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 company earned $0.95 earnings per share. The company's revenue was down 11.3% compared to the same quarter last year. As a group, equities analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.96%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Wall Street Analyst Weigh In

TAP has been the subject of several recent research reports. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $65.00 to $50.00 in a research report on Friday. Morgan Stanley dropped their price objective on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price for the company. Finally, Wells Fargo & Company decreased their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $60.46.

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.