Molson Coors Beverage (NYSE:TAP) Short Interest Update

Molson Coors Beverage (NYSE:TAP) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 7,510,000 shares, a decline of 25.1% from the May 31st total of 10,030,000 shares. Currently, 4.3% of the shares of the company are sold short. Based on an average daily volume of 2,180,000 shares, the days-to-cover ratio is presently 3.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in Molson Coors Beverage in the third quarter valued at $173,000. LPL Financial LLC increased its position in shares of Molson Coors Beverage by 1.0% during the third quarter. LPL Financial LLC now owns 75,030 shares of the company’s stock valued at $4,771,000 after buying an additional 769 shares during the period. Stifel Financial Corp increased its holdings in shares of Molson Coors Beverage by 28.5% during the third quarter. Stifel Financial Corp now owns 38,601 shares of the company’s stock valued at $2,455,000 after acquiring an additional 8,552 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of Molson Coors Beverage by 13.4% in the 3rd quarter. Natixis Advisors L.P. now owns 35,015 shares of the company’s stock worth $2,227,000 after purchasing an additional 4,146 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its position in Molson Coors Beverage by 1.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 99,531 shares of the company’s stock valued at $6,329,000 after purchasing an additional 1,310 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 0.4 %

Shares of TAP stock traded up $0.20 on Friday, hitting $50.83. 2,492,944 shares of the company’s stock traded hands, compared to its average volume of 2,663,289. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 1.83 and a beta of 0.81. The company’s fifty day simple moving average is $55.09 and its 200 day simple moving average is $60.67. Molson Coors Beverage has a one year low of $49.19 and a one year high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.54 earnings per share. Equities analysts forecast that Molson Coors Beverage will post 5.68 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a $0.44 dividend. The ex-dividend date was Friday, June 7th. This represents a $1.76 annualized dividend and a yield of 3.46%. Molson Coors Beverage’s payout ratio is currently 35.20%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TAP. Evercore ISI lowered their price target on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Bank of America reduced their price target on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Piper Sandler assumed coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 target price for the company. Finally, Citigroup lowered their price target on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $65.07.

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.