Auxier Asset Management Has $6.18 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Auxier Asset Management reduced its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,835 shares of the company’s stock after selling 2,086 shares during the period. Auxier Asset Management owned about 0.05% of Molson Coors Beverage worth $6,181,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Truvestments Capital LLC boosted its position in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock valued at $37,000 after acquiring an additional 643 shares during the last quarter. Quarry LP lifted its stake in Molson Coors Beverage by 55.1% in the fourth quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after buying an additional 254 shares during the period. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted its position 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 worth $42,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the sale, the director now owns 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.71% of the stock is owned by corporate insiders.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $54.04 on Friday. The company’s 50 day simple moving average is $58.24 and its 200 day simple moving average is $58.40. 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 has a 1 year low of $49.19 and a 1 year high of $64.66. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73.

Molson Coors Beverage (NYSE:TAP) last posted 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). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company posted $0.95 EPS. The firm’s revenue was down 11.3% compared to the same quarter last year. As a group, research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage’s payout ratio is 37.83%.

Analyst Ratings Changes

Several equities analysts recently issued reports on TAP shares. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a “buy” rating in a research report on Tuesday. Berenberg Bank assumed coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price target for the company. Wall Street Zen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. Needham & Company LLC cut their price target on Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating for the company in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $63.26.

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.