Molson Coors Beverage (NYSE:TAP) Shares Sold by National Bank of Canada FI

National Bank of Canada FI reduced its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 22.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,797 shares of the company's stock after selling 72,549 shares during the quarter. National Bank of Canada FI owned 0.12% of Molson Coors Beverage worth $16,001,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. Kestra Private Wealth Services LLC increased its position in Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company's stock valued at $709,000 after acquiring an additional 174 shares during the last quarter. IMPACTfolio LLC increased its holdings in shares of Molson Coors Beverage by 4.6% during the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company's stock worth $246,000 after buying an additional 176 shares during the last quarter. Syntax Advisors LLC increased its stake in Molson Coors Beverage by 5.0% during the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company's stock worth $246,000 after purchasing an additional 185 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Molson Coors Beverage by 1.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company's stock valued at $970,000 after purchasing an additional 196 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in Molson Coors Beverage by 1.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company's stock valued at $710,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.71% of the company's stock.

Molson Coors Beverage Stock Performance

TAP traded down $0.06 on Wednesday, hitting $58.21. 1,815,983 shares of the company's stock were exchanged, compared to its average volume of 1,783,647. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The firm has a market cap of $12.38 billion, a PE ratio of 11.68, a P/E/G ratio of 2.09 and a beta of 0.86. The stock has a fifty day moving average of $64.57 and a two-hundred day moving average of $62.35. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.21. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS. On average, research analysts anticipate that Molson Coors Beverage will post 5.67 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Thursday, February 29th. This is an increase from Molson Coors Beverage's previous quarterly dividend of $0.41. Molson Coors Beverage's dividend payout ratio is currently 35.20%.

Wall Street Analyst Weigh In

TAP has been the subject of a number of research reports. Evercore ISI cut their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an "outperform" rating for the company in a research report on Wednesday, May 1st. UBS Group decreased their target price on Molson Coors Beverage from $70.00 to $64.00 and set a "neutral" rating for the company in a research report on Wednesday, May 1st. Barclays lowered their price objective on shares of Molson Coors Beverage from $67.00 to $62.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a "hold" rating in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $66.00 to $60.00 and set a "neutral" rating on the stock in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $65.53.

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.