GAMMA Investing LLC Purchases 1,402 Shares of Molson Coors Beverage (NYSE:TAP)

GAMMA Investing LLC grew its holdings in Molson Coors Beverage (NYSE:TAP) by 42.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,695 shares of the company’s stock after acquiring an additional 1,402 shares during the quarter. GAMMA Investing LLC’s holdings in Molson Coors Beverage were worth $269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Altshuler Shaham Ltd bought a new stake in Molson Coors Beverage in the 2nd quarter valued at about $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Molson Coors Beverage in the third quarter valued at approximately $35,000. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage during the third quarter worth approximately $42,000. Quarry LP bought a new position in Molson Coors Beverage during the 2nd quarter worth $54,000. Finally, True Wealth Design LLC acquired a new position in Molson Coors Beverage in the 3rd quarter valued at $59,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $55.26 on Wednesday. The stock’s 50-day moving average is $59.36 and its 200-day moving average is $55.75. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.38 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 EPS. Equities research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.18%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Wall Street Analysts Forecast Growth

TAP has been the topic of several analyst reports. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They issued a “buy” rating and a $72.00 target price on the stock. Barclays boosted their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Company 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.