GAMMA Investing LLC Purchases 1,402 Shares of Molson Coors Beverage (NYSE:TAP)

GAMMA Investing LLC increased its position in shares of Molson Coors Beverage (NYSE:TAP) by 42.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,695 shares of the company’s stock after buying an additional 1,402 shares during the period. GAMMA Investing LLC’s holdings in Molson Coors Beverage were worth $269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TAP. Principal Financial Group Inc. grew its holdings in Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after acquiring an additional 9,510 shares during the period. Synovus Financial Corp acquired a new position in Molson Coors Beverage in the third quarter valued at approximately $684,000. Tidal Investments LLC boosted its stake in Molson Coors Beverage by 19.4% during the third quarter. Tidal Investments LLC now owns 30,362 shares of the company’s stock worth $1,746,000 after acquiring an additional 4,929 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Molson Coors Beverage in the third quarter worth $262,000. Finally, World Investment Advisors LLC bought a new stake in Molson Coors Beverage in the third quarter valued at $3,153,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. TD Cowen decreased their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $55.26 on Wednesday. The business’s fifty day simple moving average is $59.36 and its 200 day simple moving average is $55.75. The firm has a market capitalization of $11.38 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the business posted $1.92 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, analysts anticipate that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

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.