GAMMA Investing LLC Purchases 321,690 Shares of Molson Coors Beverage (NYSE:TAP)

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

A number of other institutional investors and hedge funds have also bought and sold shares of TAP. Truvestments Capital LLC increased its stake in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after buying an additional 202 shares during the period. CoreCap Advisors LLC boosted its holdings in Molson Coors Beverage by 10,716.7% in the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after acquiring an additional 643 shares during the last quarter. Quarry LP increased its position in Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after purchasing an additional 254 shares during the period. Catalyst Capital Advisors LLC raised its holdings in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 0.2%

Shares of NYSE TAP traded up $0.09 during midday trading on Monday, hitting $52.09. 2,395,488 shares of the stock traded hands, compared to its average volume of 2,128,433. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66. The business has a 50 day moving average price of $56.88 and a two-hundred day moving average price of $57.84. The company has a market cap of $10.53 billion, a PE ratio of 9.74, a P/E/G ratio of 1.52 and a beta of 0.72.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates 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 quarter last year, the firm posted $0.95 EPS. The business's revenue for the quarter was down 11.3% compared to the same quarter last year. On average, equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.47 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.61%. Molson Coors Beverage's dividend payout ratio is presently 37.83%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TAP shares. Berenberg Bank started coverage on shares of Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective for the company. Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. UBS Group lowered their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Barclays cut their target price on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Finally, Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus target price of $63.26.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the sale, the director now owns 27,595 shares in the company, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.71% of the stock is owned by insiders.

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.