Molson Coors Beverage Company (NYSE:TAP) Shares Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lifted its holdings in Molson Coors Beverage Company (NYSE:TAP) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,360 shares of the company’s stock after purchasing an additional 293 shares during the period. OneDigital Investment Advisors LLC’s holdings in Molson Coors Beverage were worth $752,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. M&T Bank Corp grew its holdings in Molson Coors Beverage by 14.6% during the 4th quarter. M&T Bank Corp now owns 14,038 shares of the company’s stock worth $804,000 after acquiring an additional 1,792 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Molson Coors Beverage during the 4th quarter worth approximately $1,991,000. Raymond James Financial Inc. acquired a new position in Molson Coors Beverage during the 4th quarter worth approximately $27,660,000. Callan Family Office LLC acquired a new position in Molson Coors Beverage during the 4th quarter worth approximately $242,000. Finally, Edgestream Partners L.P. acquired a new position in Molson Coors Beverage during the 4th quarter worth approximately $1,339,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analysts Set New Price Targets

TAP has been the subject of several research analyst reports. Piper Sandler lowered their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set a “neutral” rating for the company in a report on Monday, June 23rd. Morgan Stanley lowered their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating for the company in a report on Friday, May 9th. UBS Group decreased their price target on shares of Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Wall Street Zen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. Finally, Berenberg Bank assumed coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a “buy” rating and a $86.90 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.46.

Insiders Place Their Bets

In other news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the sale, the director directly owned 27,595 shares in the company, valued at $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.71% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $49.39 on Wednesday. The company has a 50-day simple moving average of $52.48 and a 200-day simple moving average of $56.11. The company has a quick ratio of 0.59, a current ratio of 0.89 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $9.99 billion, a PE ratio of 9.94, a P/E/G ratio of 2.69 and a beta of 0.69. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the business posted $0.95 earnings per share. The business’s revenue was down 11.3% compared to the same quarter last year. Equities research analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a dividend of $0.47 per share. The ex-dividend date was Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.81%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 37.83%.

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.