Molson Coors Beverage (NYSE:TAP) Sees Unusually-High Trading Volume – Here’s Why

Molson Coors Beverage (NYSE:TAP) shares saw an uptick in trading volume on Friday . 459,102 shares traded hands during trading, a decline of 32% from the previous session’s volume of 675,410 shares.The stock last traded at $55.18 and had previously closed at $57.20.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TAP shares. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. TD Cowen cut their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC started coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $62.00.

Molson Coors Beverage Trading Down 2.3 %

The stock has a market cap of $11.51 billion, a PE ratio of 12.58, a PEG ratio of 2.38 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The business has a 50-day moving average of $59.38 and a 200 day moving average of $55.57.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.92 EPS. Equities research analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Institutional Investors Weigh In On Molson Coors Beverage

Hedge funds have recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new position in Molson Coors Beverage during the second quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth $35,000. Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth $42,000. Quarry LP purchased a new position in shares of Molson Coors Beverage in the 2nd quarter worth $54,000. Finally, True Wealth Design LLC acquired a new position in Molson Coors Beverage in the third quarter valued at $59,000. 78.46% of the stock is owned by institutional investors and hedge funds.

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.