Yousif Capital Management LLC Lowers Stock Holdings in Molson Coors Beverage Company (NYSE:TAP)

Yousif Capital Management LLC decreased its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 1.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,309 shares of the company’s stock after selling 231 shares during the quarter. Yousif Capital Management LLC’s holdings in Molson Coors Beverage were worth $1,175,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. DoubleLine ETF Adviser LP increased its holdings in Molson Coors Beverage by 1.7% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock valued at $590,000 after acquiring an additional 170 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after acquiring an additional 202 shares during the last quarter. Truvestments Capital LLC increased its holdings in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after acquiring an additional 203 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in Molson Coors Beverage by 0.4% in the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company’s stock valued at $2,809,000 after acquiring an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on TAP shares. Morgan Stanley reduced their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. Wall Street Zen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. Needham & Company LLC reduced their target price on shares of Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 target price on the stock. Finally, Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the stock a “buy” rating in a report on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $63.26.

Molson Coors Beverage Price Performance

TAP stock opened at $49.32 on Wednesday. Molson Coors Beverage Company has a 12 month low of $49.29 and a 12 month high of $64.66. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $55.56 and a 200 day moving average price of $57.37. The stock has a market cap of $9.97 billion, a PE ratio of 9.92, a P/E/G ratio of 1.85 and a beta of 0.72.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. Molson Coors Beverage’s revenue for the quarter was down 11.3% on a year-over-year basis. Equities research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.81%. Molson Coors Beverage’s dividend payout ratio (DPR) is 37.83%.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the sale, the director now directly owns 27,595 shares of the company’s stock, valued at $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.71% of the stock is owned by corporate insiders.

About Molson Coors Beverage

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.