SG Americas Securities LLC Buys 67,693 Shares of Molson Coors Beverage Company $TAP

SG Americas Securities LLC grew its stake in Molson Coors Beverage Company (NYSE:TAP) by 144.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,570 shares of the company’s stock after buying an additional 67,693 shares during the period. SG Americas Securities LLC owned 0.06% of Molson Coors Beverage worth $4,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Fairfax Financial Holdings Ltd. Can increased its position in shares of Molson Coors Beverage by 5.9% during the third quarter. Fairfax Financial Holdings Ltd. Can now owns 1,290,071 shares of the company’s stock valued at $58,363,000 after acquiring an additional 71,571 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Molson Coors Beverage in the 3rd quarter valued at $8,365,000. Oak Thistle LLC bought a new position in Molson Coors Beverage in the 4th quarter valued at $3,194,000. AIA Group Ltd increased its position in shares of Molson Coors Beverage by 132.5% during the 3rd quarter. AIA Group Ltd now owns 88,063 shares of the company’s stock valued at $3,985,000 after purchasing an additional 50,192 shares during the last quarter. Finally, Delta Global Management LP purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at $2,360,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $39.74 on Tuesday. The firm has a market capitalization of $7.45 billion, a PE ratio of -3.74 and a beta of 0.41. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $41.25 and a two-hundred day moving average price of $45.01. Molson Coors Beverage Company has a twelve month low of $38.04 and a twelve month high of $54.82.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Equities analysts forecast that Molson Coors Beverage Company will post 4.81 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.8%. Molson Coors Beverage’s payout ratio is presently -18.05%.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the sale, the director owned 9,871 shares in the company, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.27% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TAP. Morgan Stanley cut their price target on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. UBS Group dropped their target price on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, April 27th. Sanford C. Bernstein decreased their price target on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $42.00 price target on shares of Molson Coors Beverage in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $44.88.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.