Virtu Financial LLC Makes New $958,000 Investment in Molson Coors Beverage Company $TAP

Virtu Financial LLC acquired a new stake in Molson Coors Beverage Company (NYSE:TAP) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 20,523 shares of the company’s stock, valued at approximately $958,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Caxton Associates LLP purchased a new position in shares of Molson Coors Beverage in the first quarter worth $202,000. United Services Automobile Association purchased a new stake in Molson Coors Beverage during the 1st quarter valued at $215,000. Woodline Partners LP boosted its position in Molson Coors Beverage by 38.7% during the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after buying an additional 4,056 shares during the period. Geneos Wealth Management Inc. grew its holdings in Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after acquiring an additional 198 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Molson Coors Beverage by 4.7% in the 2nd quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock worth $19,889,000 after acquiring an additional 18,566 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.1%

Shares of NYSE TAP opened at $39.37 on Monday. The firm has a fifty day simple moving average of $41.74 and a two-hundred day simple moving average of $45.24. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $7.38 billion, a PE ratio of -3.70 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts expect that Molson Coors Beverage Company will post 4.8 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, May 29th. Molson Coors Beverage’s payout ratio is presently -18.05%.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the transaction, the director owned 9,871 shares in the company, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BNP Paribas Exane lowered their price objective on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a research note on Wednesday, June 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $42.00 target price on shares of Molson Coors Beverage in a research note on Friday, May 1st. The Goldman Sachs Group boosted their price target on Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Finally, UBS Group lowered their price target on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $44.88.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.