SG Americas Securities LLC Increases Holdings in Molson Coors Beverage (NYSE:TAP)

SG Americas Securities LLC grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,875 shares of the company’s stock after buying an additional 550 shares during the quarter. SG Americas Securities LLC’s holdings in Molson Coors Beverage were worth $1,210,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TAP. Norges Bank purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $142,407,000. Fairfax Financial Holdings Ltd. Can purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $68,010,000. Estuary Capital Management LP purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $39,052,000. Freestone Grove Partners LP purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $29,913,000. Finally, Raymond James Financial Inc. purchased a new stake in Molson Coors Beverage in the 4th quarter worth about $27,660,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Needham & Company LLC reduced 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. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price objective on the stock. Barclays reduced 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 price objective on shares of Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.26.

Insider Activity

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

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $49.59 on Tuesday. The firm has a market cap of $10.03 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.72. The firm’s 50 day simple moving average is $55.78 and its 200-day simple moving average is $57.43. Molson Coors Beverage has a one year low of $49.36 and a one year high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the business posted $0.95 earnings per share. Molson Coors Beverage’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.79%. Molson Coors Beverage’s dividend payout ratio 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.