Molson Coors Beverage (NYSE:TAP) Shares Purchased by Qsemble Capital Management LP

Qsemble Capital Management LP raised its position in Molson Coors Beverage (NYSE:TAP) by 195.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 39,240 shares of the company’s stock after acquiring an additional 25,949 shares during the quarter. Qsemble Capital Management LP’s holdings in Molson Coors Beverage were worth $1,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in shares of Molson Coors Beverage in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. boosted its position in Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 501 shares during the period. GPS Wealth Strategies Group LLC grew its stake in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after acquiring an additional 294 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at $36,000. Finally, Quarry LP boosted its holdings in Molson Coors Beverage by 69.3% in the fourth quarter. Quarry LP now owns 657 shares of the company’s stock valued at $40,000 after purchasing an additional 269 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TAP has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Barclays raised their target price on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Citigroup lowered 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 report on Wednesday, July 10th. Jefferies Financial Group reduced their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Finally, Bank of America lowered their target price on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.53.

Molson Coors Beverage Trading Down 1.7 %

TAP opened at $53.84 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The business’s 50 day moving average is $53.12 and its two-hundred day moving average is $57.27. The firm has a market cap of $11.41 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 2.41 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 EPS. On average, research analysts predict that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.27%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

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.