Molson Coors Beverage (NYSE:TAP) Sees Large Volume Increase

Molson Coors Beverage (NYSE:TAP) saw unusually-strong trading volume on Tuesday . Approximately 1,383,785 shares traded hands during mid-day trading, a decline of 17% from the previous session’s volume of 1,674,389 shares.The stock last traded at $58.97 and had previously closed at $63.56.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TAP shares. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Citigroup downgraded Molson Coors Beverage from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $66.00 to $56.00 in a research report on Wednesday, April 24th. The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Piper Sandler assumed coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They set a “neutral” rating and a $69.00 price objective for the company. Finally, Barclays boosted their target price on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.07.

Molson Coors Beverage Trading Down 7.9 %

The company has a fifty day moving average price of $65.18 and a 200-day moving average price of $62.41. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $12.44 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 2.16 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 EPS. On average, equities research analysts predict that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 3.01%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s payout ratio is currently 40.37%.

Insiders Place Their Bets

In other news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in Molson Coors Beverage by 76.0% during the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after purchasing an additional 1,500,269 shares during the last quarter. Morgan Stanley lifted its position in shares of Molson Coors Beverage by 40.2% in the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock valued at $219,194,000 after buying an additional 988,864 shares during the last quarter. Invesco Ltd. lifted its position in shares of Molson Coors Beverage by 13.0% in the third quarter. Invesco Ltd. now owns 3,087,469 shares of the company’s stock valued at $196,332,000 after buying an additional 355,694 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Molson Coors Beverage by 9,466.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after buying an additional 2,121,211 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at approximately $127,337,000. 78.46% of the stock is owned by institutional investors and hedge funds.

About Molson Coors Beverage

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.