Molson Coors Beverage (NYSE:TAP) Insider Geoffrey E. Molson Sells 1,840 Shares

Molson Coors Beverage (NYSE:TAP – Get Rating) insider Geoffrey E. Molson sold 1,840 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $60.62, for a total transaction of $111,540.80. Following the completion of the sale, the insider now owns 25,904 shares in the company, valued at $1,570,300.48. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Molson Coors Beverage Trading Down 0.1 %

Molson Coors Beverage stock traded down $0.09 during mid-day trading on Friday, hitting $60.64. 1,739,473 shares of the stock were exchanged, compared to its average volume of 1,920,427. The company has a quick ratio of 0.49, a current ratio of 0.77 and a debt-to-equity ratio of 0.48. Molson Coors Beverage has a 12 month low of $46.69 and a 12 month high of $66.67. The firm’s fifty day simple moving average is $57.56 and its two-hundred day simple moving average is $54.13. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of -50.98, a PEG ratio of 3.33 and a beta of 0.83.

Molson Coors Beverage (NYSE:TAP – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.28. Molson Coors Beverage had a negative net margin of 1.97% and a positive return on equity of 7.16%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the business earned $0.29 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. Analysts forecast that Molson Coors Beverage will post 4.34 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, June 2nd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, June 1st. This represents a $1.64 annualized dividend and a yield of 2.70%. Molson Coors Beverage’s payout ratio is -137.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Roth Capital restated a “buy” rating on shares of Molson Coors Beverage in a research note on Tuesday, February 21st. Jefferies Financial Group raised their price target on shares of Molson Coors Beverage from $68.00 to $74.00 in a research note on Friday, May 12th. Credit Suisse Group raised their price target on shares of Molson Coors Beverage from $46.00 to $49.00 and gave the company an “underperform” rating in a research note on Wednesday, February 22nd. UBS Group raised their price target on shares of Molson Coors Beverage from $54.00 to $67.00 in a research note on Wednesday, May 3rd. Finally, Citigroup assumed coverage on shares of Molson Coors Beverage in a report on Thursday, February 16th. They issued a “neutral” rating and a $55.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $57.87.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its stake in shares of Molson Coors Beverage by 17.8% in the 1st quarter. ProShare Advisors LLC now owns 27,160 shares of the company’s stock valued at $1,404,000 after acquiring an additional 4,113 shares in the last quarter. Toroso Investments LLC increased its stake in shares of Molson Coors Beverage by 29.6% in the 1st quarter. Toroso Investments LLC now owns 12,403 shares of the company’s stock valued at $641,000 after acquiring an additional 2,833 shares in the last quarter. SkyView Investment Advisors LLC bought a new stake in shares of Molson Coors Beverage in the 1st quarter valued at $591,000. JPMorgan Chase & Co. increased its stake in shares of Molson Coors Beverage by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 446,667 shares of the company’s stock valued at $23,084,000 after acquiring an additional 40,234 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Molson Coors Beverage by 1.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 21,227 shares of the company’s stock valued at $1,095,000 after acquiring an additional 324 shares in the last quarter. Institutional investors own 76.24% of the company’s stock.

About Molson Coors Beverage

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Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.