Venturi Wealth Management LLC Has $262,000 Holdings in Molson Coors Beverage Company (NYSE:TAP)

Venturi Wealth Management LLC grew its position in Molson Coors Beverage Company (NYSE:TAP) by 46.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,302 shares of the company’s stock after acquiring an additional 1,367 shares during the quarter. Venturi Wealth Management LLC’s holdings in Molson Coors Beverage were worth $262,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. DoubleLine ETF Adviser LP raised its stake in shares of Molson Coors Beverage by 1.7% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock valued at $590,000 after acquiring an additional 170 shares in the last quarter. Twin Capital Management Inc. raised its stake in shares of Molson Coors Beverage by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock valued at $1,509,000 after acquiring an additional 180 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Molson Coors Beverage by 0.4% in the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company’s stock valued at $2,809,000 after acquiring an additional 206 shares in the last quarter. Forum Financial Management LP raised its stake in shares of Molson Coors Beverage by 4.4% in the 4th quarter. Forum Financial Management LP now owns 5,210 shares of the company’s stock valued at $299,000 after acquiring an additional 220 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Molson Coors Beverage by 3.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 7,014 shares of the company’s stock valued at $402,000 after acquiring an additional 249 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $51.16 on Friday. Molson Coors Beverage Company has a 1-year low of $46.94 and a 1-year high of $64.66. The firm has a market capitalization of $10.34 billion, a PE ratio of 10.29, a PEG ratio of 2.82 and a beta of 0.69. The business’s 50 day moving average is $50.93 and its 200-day moving average is $55.49. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data 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 return on equity of 8.59% and a net margin of 7.74%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $0.95 EPS. Molson Coors Beverage’s revenue for the quarter was down 11.3% compared to the same quarter last year. Sell-side analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage’s dividend payout ratio is 37.83%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group cut their price objective on Molson Coors Beverage from $59.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, July 17th. Wells Fargo & Company cut their price objective on Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 25th. Wall Street Zen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. Sanford C. Bernstein cut their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 9th. Finally, Morgan Stanley cut their price target on 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. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus price target of $59.26.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,333 shares of the business’s 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 owned 27,595 shares of the company’s stock, valued at $1,553,322.55. The trade was a 4.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is currently owned by corporate insiders.

Molson Coors Beverage 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.