SeaCrest Wealth Management LLC Sells 969 Shares of Molson Coors Beverage (NYSE:TAP)

SeaCrest Wealth Management LLC cut its stake in Molson Coors Beverage (NYSE:TAP) by 7.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,330 shares of the company’s stock after selling 969 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Molson Coors Beverage were worth $690,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Randolph Co Inc increased its stake in shares of Molson Coors Beverage by 26.2% in the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company’s stock valued at $27,352,000 after acquiring an additional 98,984 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Molson Coors Beverage by 123.3% in the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company’s stock valued at $1,047,000 after purchasing an additional 10,080 shares during the period. US Bancorp DE grew its position in shares of Molson Coors Beverage by 103.9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company’s stock valued at $1,106,000 after purchasing an additional 9,825 shares during the period. Unified Investment Management acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at approximately $871,000. Finally, Wilsey Asset Management Inc. grew its position in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after purchasing an additional 8,679 shares during the period. 78.46% of the stock is owned by institutional investors.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction on 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. This represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.71% of the stock is owned by company insiders.

Molson Coors Beverage Trading Up 0.2%

Shares of Molson Coors Beverage stock opened at $51.95 on Friday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $64.66. The stock has a market cap of $10.50 billion, a P/E ratio of 9.71, a P/E/G ratio of 1.52 and a beta of 0.72. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $56.88 and its 200-day moving average is $57.88.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (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 for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. Equities research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 37.83%.

Wall Street Analyst Weigh In

TAP has been the subject of several research analyst reports. Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Berenberg Bank initiated coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price objective for the company. UBS Group decreased their price objective on 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. Needham & Company LLC decreased their price objective on Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Finally, 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, May 20th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $63.26.

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.