Molson Coors Beverage (NYSE:TAP) Director Geoffrey Molson Sells 1,245 Shares of Stock

Molson Coors Beverage Company (NYSE:TAP) Director Geoffrey Molson sold 1,245 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the transaction, the director owned 9,871 shares in the company, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $42.52 on Friday. The company has a market cap of $7.97 billion, a PE ratio of -4.00 and a beta of 0.44. The stock’s 50 day simple moving average is $42.85 and its 200-day simple moving average is $46.06. Molson Coors Beverage Company has a 1-year low of $40.64 and a 1-year high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.26. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. As a group, equities research analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research report on Friday, May 1st. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Morgan Stanley reduced their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. The Goldman Sachs Group lifted their price objective on Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Finally, Evercore reduced their price objective on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.59.

Hedge Funds Weigh In On Molson Coors Beverage

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its stake in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after acquiring an additional 198 shares during the last quarter. UMB Bank n.a. increased its stake in Molson Coors Beverage by 16.5% during the fourth quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock worth $68,000 after acquiring an additional 208 shares during the last quarter. New York Life Investment Management LLC increased its stake in Molson Coors Beverage by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock worth $1,069,000 after acquiring an additional 210 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after acquiring an additional 221 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its stake in Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after acquiring an additional 244 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.