SG Americas Securities LLC Buys 67,693 Shares of Molson Coors Beverage Company $TAP

SG Americas Securities LLC lifted its position in Molson Coors Beverage Company (NYSE:TAP) by 144.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,570 shares of the company’s stock after buying an additional 67,693 shares during the quarter. SG Americas Securities LLC’s holdings in Molson Coors Beverage were worth $4,933,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. GoalVest Advisory LLC purchased a new position in Molson Coors Beverage during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. lifted its stake in Molson Coors Beverage by 84.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after purchasing an additional 244 shares in the last quarter. Basepoint Wealth LLC purchased a new stake in Molson Coors Beverage in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after purchasing an additional 221 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Molson Coors Beverage by 551.1% during the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock valued at $29,000 after purchasing an additional 518 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TAP shares. Evercore decreased their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. UBS Group dropped their price objective on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. The Goldman Sachs Group boosted their target price on Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Sanford C. Bernstein lowered their price target on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $44.88.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the sale, the director owned 9,871 shares in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.27% of the stock is owned by insiders.

Molson Coors Beverage Price Performance

TAP stock opened at $39.74 on Tuesday. The firm has a 50 day simple moving average of $41.25 and a two-hundred day simple moving average of $45.01. The stock has a market cap of $7.45 billion, a PE ratio of -3.74 and a beta of 0.41. Molson Coors Beverage Company has a one year low of $38.04 and a one year high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data 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 firm had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the company posted $0.50 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts predict that Molson Coors Beverage Company will post 4.81 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is currently -18.05%.

Molson Coors Beverage 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.