Molson Coors Beverage (NYSE:TAP) Shares Sold by Private Management Group Inc.

Private Management Group Inc. lessened its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 268,803 shares of the company’s stock after selling 1,619 shares during the quarter. Private Management Group Inc. owned 0.12% of Molson Coors Beverage worth $16,453,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC grew its position in Molson Coors Beverage by 8.0% in the fourth quarter. NewSquare Capital LLC now owns 12,385 shares of the company’s stock valued at $758,000 after acquiring an additional 915 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Molson Coors Beverage during the 4th quarter valued at approximately $92,000. Linden Thomas Advisory Services LLC boosted its stake in shares of Molson Coors Beverage by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock valued at $710,000 after buying an additional 200 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Molson Coors Beverage by 26.0% during the 4th quarter. California Public Employees Retirement System now owns 455,577 shares of the company’s stock valued at $27,886,000 after buying an additional 94,125 shares during the last quarter. Finally, Duality Advisers LP purchased a new position in shares of Molson Coors Beverage during the 4th quarter valued at approximately $2,876,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Piper Sandler assumed coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They set a “neutral” rating and a $69.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.73.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated 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 of the company’s stock, valued at approximately $3,654,679.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.71% of the company’s stock.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock traded down $0.39 during midday trading on Tuesday, hitting $64.13. The company’s stock had a trading volume of 2,034,247 shares, compared to its average volume of 1,665,057. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $65.02 and its 200-day moving average price is $62.27. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90. The company has a market capitalization of $13.63 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. Molson Coors Beverage’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. Analysts anticipate that Molson Coors Beverage will post 5.67 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.74%. The ex-dividend date was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s payout ratio is 40.37%.

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.