Molson Coors Beverage Company $TAP Position Lessened by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC reduced its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 63.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 7,481 shares of the company’s stock after selling 13,067 shares during the period. Aaron Wealth Advisors LLC’s holdings in Molson Coors Beverage were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its position in shares of Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after acquiring an additional 198 shares during the last quarter. UMB Bank n.a. lifted its position in Molson Coors Beverage by 16.5% in the 4th quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock valued at $68,000 after purchasing an additional 208 shares during the last quarter. New York Life Investment Management LLC lifted its position in Molson Coors Beverage by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock valued at $1,069,000 after purchasing an additional 210 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after purchasing an additional 221 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after purchasing an additional 244 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, the director owned 9,871 shares of the company’s stock, valued at $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.27% of the stock is currently owned by company insiders.

Molson Coors Beverage Trading Down 4.2%

Molson Coors Beverage stock opened at $39.74 on Tuesday. Molson Coors Beverage Company has a 12-month low of $38.04 and a 12-month high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. The stock has a market capitalization of $7.45 billion, a PE ratio of -3.74 and a beta of 0.41. The firm has a 50 day simple moving average of $41.25 and a 200-day simple moving average of $45.01.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, equities research analysts expect that Molson Coors Beverage Company will post 4.81 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a $0.48 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.8%. Molson Coors Beverage’s dividend payout ratio is -18.05%.

Wall Street Analyst Weigh In

TAP has been the topic of several analyst reports. Sanford C. Bernstein dropped their price target on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 26th. Jefferies Financial Group reduced their price objective on Molson Coors Beverage from $43.00 to $41.00 in a research report on Friday, June 12th. Barclays decreased their price objective on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, May 1st. BNP Paribas Exane lowered their target price on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 3rd. Finally, UBS Group cut their target price on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.88.

Molson Coors Beverage Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.