Forza Wealth Management LLC Sells 400 Shares of Molson Coors Beverage (NYSE:TAP)

Forza Wealth Management LLC reduced its position in Molson Coors Beverage (NYSE:TAP) by 1.8% during the first quarter, HoldingsChannel reports. The fund owned 21,945 shares of the company’s stock after selling 400 shares during the quarter. Forza Wealth Management LLC’s holdings in Molson Coors Beverage were worth $1,476,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its stake in Molson Coors Beverage by 19.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock valued at $726,000 after acquiring an additional 1,859 shares during the period. International Assets Investment Management LLC raised its stake in Molson Coors Beverage by 6,418.1% in the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after acquiring an additional 149,093 shares during the period. SkyView Investment Advisors LLC raised its stake in Molson Coors Beverage by 3.4% in the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock valued at $785,000 after acquiring an additional 408 shares during the period. Metis Global Partners LLC raised its stake in Molson Coors Beverage by 24.2% in the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock valued at $712,000 after acquiring an additional 2,183 shares during the period. Finally, Savoir Faire Capital Management L.P. bought a new stake in Molson Coors Beverage in the 3rd quarter valued at about $3,245,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded up $0.98 during midday trading on Monday, hitting $63.52. 2,557,103 shares of the company’s stock were exchanged, compared to its average volume of 1,683,808. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 2.16 and a beta of 0.84. The business’s fifty day moving average price is $65.15 and its two-hundred day moving average price is $62.37.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. Molson Coors Beverage’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, research analysts forecast that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 2.77%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is currently 40.37%.

Insiders Place Their Bets

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the sale, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.71% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Barclays upped their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Piper Sandler assumed coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 price target on the stock. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Finally, Citigroup cut Molson Coors Beverage from a “neutral” rating to a “sell” rating and decreased their price target for the company from $66.00 to $56.00 in a research report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus price target of $68.07.

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.