Mutual of America Capital Management LLC Has $1.22 Million Stake in Molson Coors Beverage Company (NYSE:TAP)

Mutual of America Capital Management LLC lessened its position in Molson Coors Beverage Company (NYSE:TAP) by 4.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,034 shares of the company’s stock after selling 902 shares during the period. Mutual of America Capital Management LLC’s holdings in Molson Coors Beverage were worth $1,219,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. DoubleLine ETF Adviser LP boosted its holdings in Molson Coors Beverage by 1.7% in the fourth 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. ProShare Advisors LLC boosted its holdings in shares of 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 buying an additional 206 shares during the last quarter. Forum Financial Management LP grew its stake in shares of Molson Coors Beverage by 4.4% in the fourth quarter. Forum Financial Management LP now owns 5,210 shares of the company’s stock valued at $299,000 after buying an additional 220 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Molson Coors Beverage by 3.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 7,014 shares of the company’s stock worth $402,000 after acquiring an additional 249 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after acquiring an additional 254 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $50.07 on Monday. The stock’s 50-day simple moving average is $51.39 and its 200 day simple moving average is $55.65. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 2.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.59 and a current ratio of 0.89. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66.

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

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a $0.47 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.75%. Molson Coors Beverage’s dividend payout ratio is currently 37.83%.

Wall Street Analyst Weigh In

TAP has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating on the stock in a report on Wednesday, June 25th. Piper Sandler dropped their target price on Molson Coors Beverage from $58.00 to $53.00 and set a “neutral” rating for the company in a research report on Monday, June 23rd. Sanford C. Bernstein decreased their price target on Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, July 9th. Berenberg Bank started coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a “buy” rating and a $86.90 target price for the company. Finally, Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the company a “buy” rating in a research report on Tuesday, May 20th. Twelve equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.26.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the transaction, the director owned 27,595 shares in the company, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.71% of the company’s stock.

Molson Coors Beverage Company 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.