Molson Coors Beverage Sees Unusually Large Options Volume (NYSE:TAP)

Molson Coors Beverage (NYSE:TAP) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 16,313 call options on the stock. This represents an increase of approximately 900% compared to the typical volume of 1,631 call options.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors and hedge funds have recently bought and sold shares of the company. Family Firm Inc. purchased a new stake in Molson Coors Beverage in the second quarter valued at about $26,000. Altshuler Shaham Ltd acquired a new position in shares of Molson Coors Beverage during the second quarter valued at about $27,000. Montag A & Associates Inc. purchased a new position in shares of Molson Coors Beverage in the 4th quarter valued at approximately $31,000. Raleigh Capital Management Inc. boosted its stake in Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 501 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC grew its position in Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after purchasing an additional 294 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TAP. Jefferies Financial Group decreased their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research note on Thursday, July 18th. Bank of America dropped their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company increased their target price on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Citigroup decreased their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Trading Down 2.0 %

Shares of NYSE TAP opened at $55.75 on Thursday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The business has a fifty day moving average price of $52.67 and a 200 day moving average price of $57.52. The stock has a market capitalization of $11.81 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the firm posted $1.78 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts expect that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 30th will be paid a $0.44 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.76 annualized dividend and a yield of 3.16%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

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.