GAMMA Investing LLC Has $19.87 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

GAMMA Investing LLC lifted its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 6,851.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 326,385 shares of the company's stock after purchasing an additional 321,690 shares during the period. GAMMA Investing LLC owned 0.16% of Molson Coors Beverage worth $19,867,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of Molson Coors Beverage by 1,002.4% during the first quarter. Versant Capital Management Inc now owns 5,523 shares of the company's stock worth $336,000 after purchasing an additional 5,022 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Molson Coors Beverage by 75.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 61,327 shares of the company's stock valued at $3,515,000 after buying an additional 26,318 shares during the period. Lansforsakringar Fondforvaltning AB publ bought a new stake in Molson Coors Beverage in the 4th quarter valued at $3,338,000. Siemens Fonds Invest GmbH acquired a new position in Molson Coors Beverage in the 4th quarter worth $4,538,000. Finally, QSM Asset Management Ltd bought a new position in Molson Coors Beverage during the 4th quarter worth about $6,693,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.2%

Shares of NYSE:TAP traded up $0.09 during midday trading on Friday, hitting $51.95. 1,910,668 shares of the stock were exchanged, compared to its average volume of 2,127,254. The business's 50-day moving average price is $57.07 and its 200 day moving average price is $57.94. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 1.52 and a beta of 0.72.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the business posted $0.95 EPS. Molson Coors Beverage's revenue was down 11.3% on a year-over-year basis. Analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.62%. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Insider Activity

In related news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the sale, the director now directly owns 27,595 shares in the company, valued at $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TAP shares. Roth Capital set a $71.00 price objective on shares of Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Morgan Stanley dropped their price target on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Barclays reduced their price objective on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Finally, Berenberg Bank started coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $63.26.

Molson Coors Beverage 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.