27,500 Shares in Molson Coors Beverage (NYSE:TAP) Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 27,500 shares of the company's stock, valued at approximately $1,576,000.

Several other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at approximately $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new position in Molson Coors Beverage during the 4th quarter worth $68,010,000. Estuary Capital Management LP bought a new position in shares of Molson Coors Beverage in the fourth quarter worth $39,052,000. Freestone Grove Partners LP purchased a new position in Molson Coors Beverage during the fourth quarter valued at approximately $29,913,000. Finally, Raymond James Financial Inc. purchased a new position in Molson Coors Beverage in the fourth quarter valued at about $27,660,000. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 0.3%

Shares of TAP stock traded down $0.15 during trading hours on Friday, reaching $53.55. 3,480,773 shares of the company's stock were exchanged, compared to its average volume of 2,393,609. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66. The stock's 50 day moving average is $57.83 and its 200-day moving average is $58.28. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.52 and a beta of 0.73.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.30 billion during the quarter, compared to analysts' expectations of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. Analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TAP shares. Needham & Company LLC lowered their target price on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. UBS Group decreased their target price 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 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. Wall Street Zen downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, Roth Capital set a $71.00 price objective on shares of Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus price target of $63.26.

Insiders Place Their Bets

In other news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction that occurred 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 transaction, the director now owns 27,595 shares in the company, valued at $1,553,322.55. This trade represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.71% of the stock is currently owned by company insiders.

About Molson Coors Beverage

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.