27,500 Shares in Molson Coors Beverage (NYSE:TAP) Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new position in shares of Molson Coors Beverage (NYSE:TAP) in the 4th quarter, HoldingsChannel reports. The fund bought 27,500 shares of the company’s stock, valued at approximately $1,576,000.

Other institutional investors have also made changes to their positions in the company. Truvestments Capital LLC lifted its holdings in shares of Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after purchasing an additional 643 shares in the last quarter. Quarry LP boosted its position in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after buying an additional 254 shares during the period. Catalyst Capital Advisors LLC grew its stake in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $56.81 on Friday. The company has a market cap of $11.51 billion, a P/E ratio of 10.62, a PEG ratio of 1.52 and a beta of 0.73. The firm has a fifty day moving average price of $58.61 and a 200 day moving average price of $58.40. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the company posted $0.95 earnings per share. The company’s revenue was down 11.3% compared to the same quarter last year. Sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is 37.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TAP. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Saturday. Needham & Company LLC lowered their price objective on shares of Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, May 12th. UBS Group dropped their price objective on shares of Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Morgan Stanley reduced their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. Finally, Berenberg Bank began coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price target for the company. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $62.71.

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.