SG Americas Securities LLC Purchases 550 Shares of Molson Coors Beverage (NYSE:TAP)

SG Americas Securities LLC lifted its position in Molson Coors Beverage (NYSE:TAP) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,875 shares of the company’s stock after buying an additional 550 shares during the period. SG Americas Securities LLC’s holdings in Molson Coors Beverage were worth $1,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. lifted its stake in shares of Molson Coors Beverage by 3,286.7% in the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company’s stock worth $31,000 after buying an additional 493 shares in the last quarter. Truvestments Capital LLC lifted its stake in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. First Financial Corp IN bought a new position in shares of Molson Coors Beverage in the first quarter worth approximately $37,000. CoreCap Advisors LLC lifted its stake in shares of Molson Coors Beverage by 10,716.7% in the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after buying an additional 643 shares in the last quarter. Finally, Quarry LP lifted its position in Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after purchasing an additional 254 shares during the period. Institutional investors own 78.46% of the company’s stock.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the transaction, the director now owns 27,595 shares of the company’s stock, valued at $1,553,322.55. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TAP. Needham & Company LLC lowered their price objective on shares of Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Wall Street Zen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Roth Capital set a $71.00 price objective on shares of Molson Coors Beverage and gave the company a “buy” rating in a research report on Tuesday, May 20th. Barclays lowered their price objective on shares of Molson Coors Beverage from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Finally, UBS Group reduced their target price on shares of Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.26.

Molson Coors Beverage Trading Down 2.0%

Shares of Molson Coors Beverage stock opened at $49.59 on Tuesday. The company has a market capitalization of $10.03 billion, a P/E ratio of 9.27, a P/E/G ratio of 1.52 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company has a fifty day moving average of $55.78 and a 200 day moving average of $57.43. Molson Coors Beverage has a fifty-two week low of $49.36 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the company earned $0.95 EPS. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, June 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 37.83%.

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.