Molson Coors Beverage Company $TAP Stock Position Lowered by First Trust Advisors LP

First Trust Advisors LP lessened its position in Molson Coors Beverage Company (NYSE:TAP) by 83.6% during the first quarter, Holdings Channel reports. The institutional investor owned 92,284 shares of the company’s stock after selling 471,664 shares during the quarter. First Trust Advisors LP’s holdings in Molson Coors Beverage were worth $3,974,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. boosted its stake in Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after buying an additional 244 shares in the last quarter. Basepoint Wealth LLC bought a new stake in Molson Coors Beverage in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC raised its position in Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after acquiring an additional 221 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Molson Coors Beverage by 551.1% in the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock valued at $29,000 after acquiring an additional 518 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its holdings in Molson Coors Beverage by 223.0% in the 4th quarter. Clearstead Advisors LLC now owns 659 shares of the company’s stock valued at $31,000 after acquiring an additional 455 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TAP. UBS Group reduced their price objective on shares of Molson Coors Beverage from $46.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. The Goldman Sachs Group boosted their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. JPMorgan Chase & Co. cut their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Molson Coors Beverage in a report on Wednesday, July 22nd. Finally, Needham & Company LLC dropped their price target on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $44.00.

Insider Activity

In related news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the sale, the director owned 9,871 shares in the company, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.27% of the stock is owned by corporate insiders.

Molson Coors Beverage Trading Down 0.9%

Shares of TAP opened at $41.89 on Thursday. The business’s 50-day moving average price is $40.23 and its 200 day moving average price is $43.70. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $7.86 billion, a P/E ratio of -3.94 and a beta of 0.42. Molson Coors Beverage Company has a 1-year low of $38.04 and a 1-year high of $54.82.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 28th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, August 28th. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.

Molson Coors Beverage 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.