Optas LLC Invests $213,000 in Molson Coors Beverage (NYSE:TAP)

Optas LLC purchased a new position in shares of Molson Coors Beverage (NYSE:TAP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,503 shares of the company’s stock, valued at approximately $213,000.

Other large investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. raised its stake in shares of Molson Coors Beverage by 3,286.7% during the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company’s stock worth $31,000 after buying an additional 493 shares in the last quarter. Truvestments Capital LLC lifted its position in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. First Financial Corp IN purchased a new position in shares of Molson Coors Beverage in the first quarter valued at $37,000. CoreCap Advisors LLC increased its stake in Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after buying an additional 643 shares during the period. Finally, Quarry LP grew its stake in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after acquiring an additional 254 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TAP has been the subject of several recent research reports. UBS Group lowered their target price on shares of Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Barclays dropped their price target on Molson Coors Beverage from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, May 12th. Morgan Stanley reduced their price objective on Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating for the company in a research report on Friday, May 9th. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price target on the stock. Finally, Wall Street Zen cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Saturday, May 17th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.26.

Insider Buying and Selling

In other news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the sale, the director now owns 27,595 shares in the company, valued at $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.71% of the company’s stock.

Molson Coors Beverage Trading Down 1.9%

Shares of NYSE TAP opened at $50.56 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12 month low of $49.38 and a 12 month high of $64.66. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 1.52 and a beta of 0.72. The business has a fifty day simple moving average of $55.95 and a 200-day simple moving average of $57.52.

Molson Coors Beverage (NYSE:TAP) last posted 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). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm posted $0.95 EPS. Molson Coors Beverage’s quarterly revenue was down 11.3% on a year-over-year basis. Sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage’s dividend payout ratio is 37.83%.

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.