Vident Advisory LLC Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Vident Advisory LLC increased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,487 shares of the company’s stock after purchasing an additional 352 shares during the period. Vident Advisory LLC’s holdings in Molson Coors Beverage were worth $2,263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TAP. Truvestments Capital LLC raised its holdings in shares of 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 purchasing an additional 202 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Molson Coors Beverage by 10,716.7% during 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 during the last quarter. Quarry LP raised its holdings in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after purchasing an additional 254 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of Molson Coors Beverage by 143.6% during 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 during the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 38.6% during 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 during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Molson Coors Beverage

In other 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 transaction, the director now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.71% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP opened at $55.71 on Thursday. The firm 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 1-year low of $49.19 and a 1-year high of $64.66. The company has a 50 day simple moving average of $58.44 and a two-hundred day simple moving average of $58.43. 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) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. Equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley decreased 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 report on Friday, May 9th. 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 research report on Friday, May 9th. JPMorgan Chase & Co. cut 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 research report on Thursday, January 30th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Finally, Berenberg Bank began coverage on shares of Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a “buy” rating and a $86.90 target price for the company. Eleven investment 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, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $62.71.

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.