Virtu Financial LLC Acquires Shares of 20,523 Molson Coors Beverage Company $TAP

Virtu Financial LLC bought a new stake in shares of Molson Coors Beverage Company (NYSE:TAP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,523 shares of the company’s stock, valued at approximately $958,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fairfax Financial Holdings Ltd. Can increased its stake 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 purchasing an additional 71,571 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Molson Coors Beverage during the third quarter valued at approximately $8,365,000. Citigroup Inc. boosted its position in shares of Molson Coors Beverage by 148.5% in the 3rd quarter. Citigroup Inc. now owns 1,364,241 shares of the company’s stock worth $61,732,000 after purchasing an additional 815,348 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Molson Coors Beverage in the 4th quarter worth approximately $3,194,000. Finally, AIA Group Ltd boosted its position in shares of Molson Coors Beverage by 132.5% in the 3rd quarter. AIA Group Ltd now owns 88,063 shares of the company’s stock worth $3,985,000 after purchasing an additional 50,192 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Down 0.1%

Shares of NYSE TAP opened at $39.37 on Monday. The firm’s 50 day moving average price is $41.74 and its 200-day moving average price is $45.24. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The company has a market cap of $7.38 billion, a PE ratio of -3.70 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts expect that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -18.05%.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the sale, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $42.00 target price on shares of Molson Coors Beverage in a report on Friday, May 1st. BNP Paribas Exane dropped their target price on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a report on Wednesday, June 3rd. Needham & Company LLC cut their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Sanford C. Bernstein reduced their price target on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average 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.