SG Americas Securities LLC Takes Position in Molson Coors Beverage (NYSE:TAP)

SG Americas Securities LLC bought a new stake in Molson Coors Beverage (NYSE:TAPGet Rating) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,726 shares of the company’s stock, valued at approximately $466,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TAP. Allspring Global Investments Holdings LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $2,722,000. Commonwealth Equity Services LLC raised its holdings in Molson Coors Beverage by 5.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 103,250 shares of the company’s stock worth $4,785,000 after purchasing an additional 5,577 shares in the last quarter. Yousif Capital Management LLC purchased a new position in Molson Coors Beverage during the fourth quarter worth about $1,460,000. D.A. Davidson & CO. raised its holdings in Molson Coors Beverage by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 15,820 shares of the company’s stock worth $733,000 after purchasing an additional 300 shares in the last quarter. Finally, CWM LLC purchased a new position in Molson Coors Beverage during the fourth quarter worth about $50,000. 79.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TAP. Sanford C. Bernstein cut shares of Molson Coors Beverage from an “outperform” rating to a “market perform” rating and set a $59.00 price target for the company. in a report on Tuesday, May 17th. Citigroup increased their price target on shares of Molson Coors Beverage from $58.00 to $61.00 in a report on Friday, May 6th. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the stock from $46.00 to $54.00 in a report on Tuesday, June 28th. Redburn Partners raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating in a report on Wednesday, July 13th. Finally, Credit Suisse Group lowered their target price on shares of Molson Coors Beverage from $50.00 to $49.00 and set an “underperform” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $53.67.

Molson Coors Beverage Stock Up 2.2 %

TAP stock opened at $54.07 on Friday. The company’s 50 day simple moving average is $55.19 and its 200-day simple moving average is $53.12. The firm has a market capitalization of $11.73 billion, a PE ratio of 16.04, a P/E/G ratio of 2.84 and a beta of 0.82. Molson Coors Beverage has a 12 month low of $42.46 and a 12 month high of $60.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.82 and a quick ratio of 0.54.

Molson Coors Beverage (NYSE:TAPGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.19 EPS for the quarter, meeting the consensus estimate of $1.19. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. Molson Coors Beverage had a net margin of 5.73% and a return on equity of 6.46%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.58 earnings per share. Equities analysts expect that Molson Coors Beverage will post 4.02 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 Thursday, September 15th. Stockholders of record on Friday, September 2nd will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $1.52 annualized dividend and a dividend yield of 2.81%. Molson Coors Beverage’s dividend payout ratio is presently 45.10%.

Molson Coors Beverage Profile

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Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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