Versor Investments LP Takes $1.38 Million Position in Molson Coors Beverage (NYSE:TAP)

Versor Investments LP bought a new position in Molson Coors Beverage (NYSE:TAP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 27,200 shares of the company’s stock, valued at approximately $1,383,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in Molson Coors Beverage during the 4th quarter worth approximately $127,337,000. Capital International Investors raised its stake in Molson Coors Beverage by 10.7% during the 1st quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock valued at $651,849,000 after acquiring an additional 939,142 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new position in Molson Coors Beverage during the 1st quarter worth $53,096,000. Allspring Global Investments Holdings LLC grew its stake in shares of Molson Coors Beverage by 220.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company’s stock worth $32,910,000 after purchasing an additional 336,496 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Molson Coors Beverage by 166.5% in the fourth quarter. KBC Group NV now owns 450,649 shares of the company’s stock worth $27,584,000 after purchasing an additional 281,580 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded up $0.32 during trading on Monday, reaching $53.97. The company’s stock had a trading volume of 2,402,600 shares, compared to its average volume of 1,912,782. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. The business’s fifty day moving average price is $52.40 and its 200-day moving average price is $57.63.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. Molson Coors Beverage’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.78 earnings per share. As a group, equities research analysts predict that Molson Coors Beverage will post 5.75 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Friday, August 30th. Molson Coors Beverage’s payout ratio is presently 35.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TAP shares. Wells Fargo & Company lifted their price objective on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, August 7th. Citigroup reduced their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. TD Cowen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating and cut their target price for the stock from $68.00 to $58.00 in a research report on Wednesday, August 7th. Finally, Piper Sandler boosted their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $60.53.

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.