Molson Coors Beverage (NYSE:TAP) Shares Sold by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC trimmed its position in Molson Coors Beverage (NYSE:TAP) by 52.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 188,630 shares of the company’s stock after selling 206,645 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Molson Coors Beverage were worth $10,812,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TAP. DoubleLine ETF Adviser LP raised its position in shares of Molson Coors Beverage by 1.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock valued at $590,000 after buying an additional 170 shares during the period. Venturi Wealth Management LLC raised its position in shares of Molson Coors Beverage by 7.4% during the 4th 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 during the period. Truvestments Capital LLC raised its position in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the period. SRS Capital Advisors Inc. increased its holdings in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in Molson Coors Beverage by 0.4% in the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company’s stock valued at $2,809,000 after purchasing an additional 206 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 27,595 shares of the company’s stock, valued at $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on TAP. JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. UBS Group dropped their price target on shares of 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. Finally, Morgan Stanley dropped their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.71.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $55.71 on Thursday. 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 fifty day moving average price of $58.44 and a 200 day moving average price of $58.43. The company has a market cap of $11.26 billion, a P/E ratio of 10.41, a PEG ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.47 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a yield of 3.37%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 37.83%.

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.