Molson Coors Beverage (NYSE:TAP) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Molson Coors Beverage (NYSE:TAP) by 75.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,293 shares of the company’s stock after acquiring an additional 1,415 shares during the quarter. GAMMA Investing LLC’s holdings in Molson Coors Beverage were worth $189,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP raised its position in shares of Molson Coors Beverage by 69.3% in the 4th quarter. Quarry LP now owns 657 shares of the company’s stock valued at $40,000 after purchasing an additional 269 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 501 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Molson Coors Beverage in the fourth quarter worth $722,000. Goldman Sachs Group Inc. lifted its stake in shares of Molson Coors Beverage by 12.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,396,489 shares of the company’s stock worth $85,479,000 after buying an additional 153,968 shares during the period. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Molson Coors Beverage during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 0.1 %

TAP stock opened at $54.45 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company’s 50-day simple moving average is $54.49 and its 200-day simple moving average is $55.85. The firm has a market cap of $11.54 billion, a P/E ratio of 10.89, a PEG ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. Molson Coors Beverage’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. As a group, equities analysts forecast that Molson Coors Beverage will post 5.74 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s payout ratio is presently 35.20%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TAP. Wells Fargo & Company lifted their price target on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 7th. TD Cowen decreased their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday. Citigroup cut their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price target on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, UBS Group upped their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $59.21.

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.