Molson Coors Beverage Target of Unusually High Options Trading (NYSE:TAP)

Molson Coors Beverage (NYSE:TAP – Get Rating) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 16,764 call options on the stock. This represents an increase of approximately 1,103% compared to the typical volume of 1,393 call options.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of recent analyst reports. Cowen upgraded shares of Molson Coors Beverage from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $60.00 in a report on Friday, January 6th. Citigroup started coverage on Molson Coors Beverage in a research report on Thursday, February 16th. They issued a “neutral” rating and a $55.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Molson Coors Beverage from a “hold” rating to a “sell” rating and set a $50.00 price objective on the stock. in a research note on Tuesday, December 6th. Wells Fargo & Company boosted their target price on Molson Coors Beverage from $45.00 to $48.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 22nd. Finally, Cowen raised shares of Molson Coors Beverage from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $55.00 to $60.00 in a report on Friday, January 6th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $54.09.

Molson Coors Beverage Trading Up 2.9 %

Shares of TAP opened at $54.35 on Thursday. Molson Coors Beverage has a 12 month low of $46.69 and a 12 month high of $60.12. The stock’s 50-day moving average is $51.83 and its two-hundred day moving average is $51.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.55. The stock has a market cap of $11.76 billion, a PE ratio of -66.28, a P/E/G ratio of 3.34 and a beta of 0.83.

Molson Coors Beverage (NYSE:TAP – Get Rating) last released its quarterly earnings results on Tuesday, February 21st. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.06 by $0.24. Molson Coors Beverage had a positive return on equity of 6.65% and a negative net margin of 1.37%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same period in the previous year, the company posted $0.81 EPS. Molson Coors Beverage’s revenue for the quarter was up .4% on a year-over-year basis. Equities analysts forecast that Molson Coors Beverage will post 4.09 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Investors of record on Friday, March 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 3.02%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.38. Molson Coors Beverage’s dividend payout ratio is currently -200.00%.

Institutional Investors Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its holdings in Molson Coors Beverage by 25.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company’s stock valued at $1,242,000 after buying an additional 4,792 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Molson Coors Beverage by 17.1% in the 1st quarter. American Century Companies Inc. now owns 18,462 shares of the company’s stock valued at $985,000 after buying an additional 2,700 shares during the period. US Bancorp DE boosted its stake in Molson Coors Beverage by 45.7% in the first quarter. US Bancorp DE now owns 3,834 shares of the company’s stock valued at $205,000 after acquiring an additional 1,203 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Molson Coors Beverage by 4.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company’s stock worth $889,000 after purchasing an additional 720 shares during the period. Finally, Natixis Advisors L.P. lifted its holdings in shares of Molson Coors Beverage by 26.3% in the 1st quarter. Natixis Advisors L.P. now owns 14,411 shares of the company’s stock worth $769,000 after purchasing an additional 3,001 shares during the last quarter. 76.24% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Company Profile

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Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.