Ceera Investments LLC Sells 305 Shares of Molson Coors Beverage Company (NYSE:TAP)

Ceera Investments LLC lessened its holdings in Molson Coors Beverage Company (NYSE:TAP) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,935 shares of the company’s stock after selling 305 shares during the quarter. Ceera Investments LLC’s holdings in Molson Coors Beverage were worth $1,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TAP. DoubleLine ETF Adviser LP increased its holdings in shares of Molson Coors Beverage by 1.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock worth $590,000 after buying an additional 170 shares during the period. Truvestments Capital LLC lifted its position in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Molson Coors Beverage by 0.4% during the fourth quarter. ProShare Advisors LLC now owns 49,000 shares of the company’s stock valued at $2,809,000 after purchasing an additional 206 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in shares of Molson Coors Beverage by 21.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company’s stock worth $71,000 after purchasing an additional 218 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TAP. Wells Fargo & Company lowered their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating for the company in a report on Wednesday, June 25th. Bank of America downgraded shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Berenberg Bank began coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They set a “buy” rating and a $86.90 target price for the company. Piper Sandler reduced their price target on Molson Coors Beverage from $58.00 to $53.00 and set a “neutral” rating on the stock in a report on Monday, June 23rd. Finally, Barclays lowered their price target on Molson Coors Beverage from $60.00 to $57.00 and set an “equal weight” rating for the company in a research report on Monday, May 12th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average price target of $60.46.

Insider Transactions 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 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 sale, the director directly owned 27,595 shares of the company’s stock, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.71% of the company’s stock.

Molson Coors Beverage Stock Down 0.4%

Shares of Molson Coors Beverage stock opened at $49.37 on Friday. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.72 and a beta of 0.69. The company has a 50-day moving average of $52.78 and a 200 day moving average of $56.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.59.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm earned $0.95 EPS. The company’s revenue was down 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Friday, June 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 37.83%.

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, spirits and energy, and ready to drink beverages.