Molson Coors Beverage (NYSE:TAP) Sees Large Volume Increase

Molson Coors Beverage (NYSE:TAP) saw unusually-high trading volume on Tuesday . Approximately 1,383,785 shares were traded during trading, a decline of 17% from the previous session’s volume of 1,674,389 shares.The stock last traded at $58.97 and had previously closed at $63.56.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TAP shares. Barclays lifted their price target on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Citigroup lowered shares of Molson Coors Beverage from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $66.00 to $56.00 in a research note on Wednesday, April 24th. Finally, Piper Sandler began coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.07.

Molson Coors Beverage Stock Down 7.9 %

The stock’s fifty day simple moving average is $65.18 and its two-hundred day simple moving average is $62.41. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 2.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.01%. The ex-dividend date was Thursday, February 29th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is 40.37%.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Czech National Bank grew its stake in shares of Molson Coors Beverage by 0.5% in the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after acquiring an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock valued at $709,000 after acquiring an additional 174 shares during the period. IMPACTfolio LLC increased its stake in shares of Molson Coors Beverage by 4.6% in the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock valued at $246,000 after buying an additional 176 shares in the last quarter. Syntax Advisors LLC increased its stake in shares of Molson Coors Beverage by 5.0% in the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after buying an additional 185 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Molson Coors Beverage by 46.6% in the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock valued at $39,000 after buying an additional 186 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

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.