Molson Coors Beverage (NYSE:TAP) Shares Bought by Sage Capital Advisors llc

Sage Capital Advisors llc increased its position in shares of Molson Coors Beverage (NYSE:TAP) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 150,077 shares of the company’s stock after buying an additional 1,129 shares during the quarter. Molson Coors Beverage comprises about 2.2% of Sage Capital Advisors llc’s portfolio, making the stock its 9th biggest position. Sage Capital Advisors llc owned approximately 0.07% of Molson Coors Beverage worth $8,602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TAP. Altshuler Shaham Ltd bought a new stake in Molson Coors Beverage during the second quarter worth $27,000. Ashton Thomas Securities LLC bought a new stake in Molson Coors Beverage in the third quarter worth about $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the third quarter valued at about $42,000. Quarry LP bought a new position in shares of Molson Coors Beverage during the 2nd quarter valued at approximately $54,000. Finally, True Wealth Design LLC purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $59,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of TAP traded down $3.30 during mid-day trading on Friday, reaching $52.29. 1,293,281 shares of the stock traded hands, compared to its average volume of 1,677,877. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm has a fifty day moving average price of $59.38 and a 200 day moving average price of $55.75. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 EPS. As a group, equities research analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.37%. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Analysts Set New Price Targets

Several equities analysts recently commented on TAP shares. Needham & Company LLC began coverage on Molson Coors Beverage in a report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective for the company. BNP Paribas assumed coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.00.

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.