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

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

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded down $0.01 during trading on Friday, hitting $42.52. 2,106,477 shares of the company’s stock were exchanged, compared to its average volume of 3,124,267. Molson Coors Beverage Company has a 52-week low of $40.64 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of -4.00 and a beta of 0.44. The business has a 50-day simple moving average of $42.90 and a 200-day simple moving average of $46.08.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.26. The company 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 firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.50 EPS. On average, research analysts forecast that Molson Coors Beverage Company will post 4.74 EPS for the current 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 issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage’s payout ratio is -18.05%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TAP. Roth Mkm set a $58.00 price target on shares of Molson Coors Beverage in a report on Thursday, February 19th. TD Cowen decreased their price objective on shares of Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Friday, March 27th. Wells Fargo & Company dropped their target price on Molson Coors Beverage from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group upped their price target on Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caxton Associates LLP purchased a new stake in shares of Molson Coors Beverage during the first quarter worth $202,000. United Services Automobile Association purchased a new stake in shares of Molson Coors Beverage in the first quarter valued at about $215,000. Woodline Partners LP grew its holdings in shares of Molson Coors Beverage by 38.7% in the first quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after purchasing an additional 4,056 shares during the period. Geneos Wealth Management Inc. raised 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 purchasing an additional 198 shares during the period. Finally, First Trust Advisors LP raised its stake in Molson Coors Beverage by 4.7% during the second quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock worth $19,889,000 after purchasing an additional 18,566 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

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.