Prelude Capital Management LLC Sells 3,781 Shares of Molson Coors Beverage (NYSE:TAP)

Prelude Capital Management LLC lessened its position in shares of Molson Coors Beverage (NYSE:TAP) by 35.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,929 shares of the company’s stock after selling 3,781 shares during the period. Prelude Capital Management LLC’s holdings in Molson Coors Beverage were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Alpha Omega Wealth Management LLC raised its stake in Molson Coors Beverage by 3.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 94,755 shares of the company’s stock worth $4,897,000 after acquiring an additional 2,718 shares in the last quarter. Leavell Investment Management Inc. increased its position in Molson Coors Beverage by 17.3% during the 1st quarter. Leavell Investment Management Inc. now owns 4,846 shares of the company’s stock worth $250,000 after purchasing an additional 713 shares in the last quarter. AE Wealth Management LLC lifted its stake in Molson Coors Beverage by 81.7% in the 1st quarter. AE Wealth Management LLC now owns 8,566 shares of the company’s stock valued at $443,000 after purchasing an additional 3,852 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in Molson Coors Beverage by 8.1% in the first quarter. Gateway Investment Advisers LLC now owns 4,522 shares of the company’s stock valued at $234,000 after buying an additional 340 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its stake in shares of Molson Coors Beverage by 46.2% during the first quarter. Ontario Teachers Pension Plan Board now owns 36,199 shares of the company’s stock worth $1,871,000 after buying an additional 11,441 shares during the last quarter. Institutional investors and hedge funds own 73.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup reissued a “positive” rating on shares of Molson Coors Beverage in a report on Wednesday, June 21st. The Goldman Sachs Group upped their price objective on Molson Coors Beverage from $61.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, July 20th. StockNews.com initiated coverage on shares of Molson Coors Beverage in a report on Thursday, August 17th. They set a “hold” rating on the stock. 51job reaffirmed a “maintains” rating on shares of Molson Coors Beverage in a research note on Monday, June 26th. Finally, Jefferies Financial Group boosted their price objective on shares of Molson Coors Beverage from $74.00 to $75.00 in a research note on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.40.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $63.59 on Monday. The stock has a market capitalization of $13.75 billion, a price-to-earnings ratio of 397.44, a PEG ratio of 1.71 and a beta of 0.88. Molson Coors Beverage has a 52-week low of $46.69 and a 52-week high of $70.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.64 and a current ratio of 0.87. The stock’s 50 day moving average price is $65.22 and its two-hundred day moving average price is $61.58.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, August 1st. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.15. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.31 billion. Molson Coors Beverage had a net margin of 0.31% and a return on equity of 8.17%. On average, equities analysts predict that Molson Coors Beverage will post 5.07 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.58%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 1,025.00%.

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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.