Insider Selling: Molson Coors Beverage (NYSE:TAP) Insider Sells 1,840 Shares of Stock

Molson Coors Beverage (NYSE:TAP – Get Rating) insider Geoffrey E. Molson sold 1,840 shares of Molson Coors Beverage stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $60.62, for a total transaction of $111,540.80. Following the transaction, the insider now directly owns 25,904 shares in the company, valued at $1,570,300.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded down $0.09 during midday trading on Friday, reaching $60.64. The stock had a trading volume of 1,739,473 shares, compared to its average volume of 1,920,427. Molson Coors Beverage has a 12 month low of $46.69 and a 12 month high of $66.67. The firm’s 50-day moving average price is $57.56 and its 200 day moving average price is $54.13. The firm has a market capitalization of $13.11 billion, a PE ratio of -50.98, a P/E/G ratio of 3.33 and a beta of 0.83. 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 (NYSE:TAP – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.28. Molson Coors Beverage had a positive return on equity of 7.16% and a negative net margin of 1.97%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.23 billion. During the same period in the previous year, the business posted $0.29 EPS. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts predict that Molson Coors Beverage will post 4.34 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

Institutional Investors Weigh In On Molson Coors Beverage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new stake in shares of Molson Coors Beverage during the first quarter valued at about $25,000. Lindbrook Capital LLC increased its position in shares of Molson Coors Beverage by 2,192.0% during the first quarter. Lindbrook Capital LLC now owns 573 shares of the company’s stock valued at $30,000 after buying an additional 548 shares during the period. Beacon Capital Management LLC increased its position in shares of Molson Coors Beverage by 1,781.3% during the fourth quarter. Beacon Capital Management LLC now owns 602 shares of the company’s stock valued at $31,000 after buying an additional 570 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Molson Coors Beverage by 85.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock valued at $33,000 after buying an additional 300 shares during the period. Finally, Red Tortoise LLC purchased a new position in shares of Molson Coors Beverage during the fourth quarter worth about $38,000. 76.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TAP shares. Citigroup started coverage on shares of Molson Coors Beverage in a report on Thursday, February 16th. They set a “neutral” rating and a $55.00 price objective on the stock. Jefferies Financial Group lifted their price objective on shares of Molson Coors Beverage from $68.00 to $74.00 in a report on Friday, May 12th. Bank of America lifted their price objective on shares of Molson Coors Beverage from $52.00 to $54.00 in a report on Wednesday, May 3rd. UBS Group boosted their price target on shares of Molson Coors Beverage from $54.00 to $67.00 in a report on Wednesday, May 3rd. Finally, Roth Capital reissued a “buy” rating on shares of Molson Coors Beverage in a report on Tuesday, February 21st. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $57.87.

Molson Coors Beverage Company Profile

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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.