GAMMA Investing LLC Invests $92,000 in Molson Coors Beverage (NYSE:TAP)

GAMMA Investing LLC bought a new stake in Molson Coors Beverage (NYSE:TAP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,496 shares of the company’s stock, valued at approximately $92,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners bought a new position in Molson Coors Beverage during the fourth quarter valued at $29,000. Stone House Investment Management LLC bought a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $32,000. Allworth Financial LP grew its position in Molson Coors Beverage by 179.4% in the fourth quarter. Allworth Financial LP now owns 623 shares of the company’s stock worth $38,000 after acquiring an additional 400 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Molson Coors Beverage during the fourth quarter worth approximately $61,000. Finally, Signaturefd LLC raised its position in Molson Coors Beverage by 30.2% during the fourth quarter. Signaturefd LLC now owns 1,193 shares of the company’s stock valued at $73,000 after purchasing an additional 277 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $63.52 on Tuesday. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. 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 stock has a fifty day simple moving average of $65.15 and a two-hundred day simple moving average of $62.37. The stock has a market capitalization of $13.50 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 2.16 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.30 earnings per share. On average, analysts predict that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.77%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 40.37%.

Analyst Upgrades and Downgrades

TAP has been the subject of several analyst reports. Citigroup lowered Molson Coors Beverage from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $66.00 to $56.00 in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Finally, Piper Sandler began coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.07.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage 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 completion of the sale, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.71% of the stock is currently owned by corporate insiders.

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.