Molson Coors Beverage (NYSE:TAP) Trading Up 4.8% – Here’s What Happened

Shares of Molson Coors Beverage Company (NYSE:TAP) traded up 4.8% during trading on Tuesday . The stock traded as high as $40.74 and last traded at $40.7410. Approximately 675,823 shares traded hands during trading, a decline of 79% from the average session volume of 3,170,255 shares. The stock had previously closed at $38.86.

Wall Street Analysts Forecast Growth

TAP has been the subject of several analyst reports. Sanford C. Bernstein lowered their price objective on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, May 26th. Barclays reduced their target price on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price target on shares of Molson Coors Beverage in a report on Friday, May 1st. Morgan Stanley cut their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Finally, BNP Paribas Exane reduced their price objective on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a report on Wednesday, June 3rd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.88.

Molson Coors Beverage Stock Up 1.7%

The business has a 50 day simple moving average of $40.82 and a 200 day simple moving average of $44.72. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of -3.71 and a beta of 0.42. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38.

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

Molson Coors Beverage Dividend Announcement

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

Insider Buying and Selling at Molson Coors Beverage

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

Institutional Trading of Molson Coors Beverage

A number of large investors have recently modified their holdings of TAP. Fairfax Financial Holdings Ltd. Can boosted its stake in shares of Molson Coors Beverage by 5.9% in the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 1,290,071 shares of the company’s stock valued at $58,363,000 after buying an additional 71,571 shares during the period. Aquatic Capital Management LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at approximately $8,365,000. Oak Thistle LLC acquired a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $3,194,000. AIA Group Ltd lifted its stake in Molson Coors Beverage by 132.5% in the third quarter. AIA Group Ltd now owns 88,063 shares of the company’s stock worth $3,985,000 after acquiring an additional 50,192 shares during the last quarter. Finally, Delta Global Management LP purchased a new position in Molson Coors Beverage in the fourth quarter worth approximately $2,360,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

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.