Foundry Partners LLC Sells 12,835 Shares of Molson Coors Beverage (NYSE:TAP)

Foundry Partners LLC lessened its holdings in Molson Coors Beverage (NYSE:TAP) by 11.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,655 shares of the company’s stock after selling 12,835 shares during the period. Foundry Partners LLC’s holdings in Molson Coors Beverage were worth $6,345,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TAP. IMPACTfolio LLC grew its holdings in shares of Molson Coors Beverage by 4.6% in the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after purchasing an additional 176 shares during the last quarter. Syntax Advisors LLC lifted its position in shares of Molson Coors Beverage by 5.0% during the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after buying an additional 185 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Molson Coors Beverage by 1.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock valued at $970,000 after buying an additional 196 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Molson Coors Beverage by 4.5% during the third quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock valued at $317,000 after buying an additional 213 shares during the last quarter. Finally, Seed Wealth Management Inc. lifted its position in shares of Molson Coors Beverage by 7.6% during the fourth quarter. Seed Wealth Management Inc. now owns 3,531 shares of the company’s stock valued at $219,000 after buying an additional 250 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Insider Buying and Selling at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.71% of the stock is currently owned by insiders.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP traded up $0.43 during midday trading on Monday, reaching $64.66. 298,646 shares of the stock were exchanged, compared to its average volume of 1,641,124. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 2.22 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The firm has a 50-day simple moving average of $64.98 and a two-hundred day simple moving average of $62.23.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the firm posted $1.30 EPS. The business’s revenue was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 40.37%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Piper Sandler assumed coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Barclays increased their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.73.

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.