GSA Capital Partners LLP Buys New Stake in Molson Coors Beverage (NYSE:TAP)

GSA Capital Partners LLP purchased a new position in shares of Molson Coors Beverage (NYSE:TAP) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,291 shares of the company’s stock, valued at approximately $1,365,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Czech National Bank lifted its position in shares of Molson Coors Beverage by 0.5% during the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after buying an additional 149 shares during the period. Kestra Private Wealth Services LLC grew its holdings in shares of Molson Coors Beverage by 1.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after purchasing an additional 174 shares during the last quarter. IMPACTfolio LLC increased its position in shares of Molson Coors Beverage by 4.6% during the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after purchasing an additional 176 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Molson Coors Beverage by 46.6% during the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock valued at $39,000 after purchasing an additional 186 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in Molson Coors Beverage by 1.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock valued at $710,000 after buying an additional 200 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TAP. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Citigroup reduced their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research report on Wednesday. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Wells Fargo & Company lowered their price target on shares of Molson Coors Beverage from $55.00 to $50.00 and set an “underweight” rating for the company in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given 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 $63.13.

Molson Coors Beverage Stock Up 1.0 %

Shares of Molson Coors Beverage stock opened at $50.43 on Thursday. The business has a fifty day simple moving average of $53.24 and a 200 day simple moving average of $59.99. The stock has a market cap of $10.68 billion, a PE ratio of 10.09, a price-to-earnings-growth ratio of 1.81 and a beta of 0.81. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Research analysts predict that Molson Coors Beverage will post 5.69 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, June 7th. This represents a $1.76 annualized dividend and a dividend yield of 3.49%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Molson Coors Beverage Profile

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.