Tidal Investments LLC Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Tidal Investments LLC grew its holdings in Molson Coors Beverage (NYSE:TAP) by 19.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,362 shares of the company’s stock after purchasing an additional 4,929 shares during the quarter. Tidal Investments LLC’s holdings in Molson Coors Beverage were worth $1,746,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Family Firm Inc. purchased a new position in Molson Coors Beverage in the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd purchased a new position in Molson Coors Beverage in the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Molson Coors Beverage in the 3rd quarter worth approximately $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the 3rd quarter worth approximately $42,000. Finally, Quarry LP purchased a new position in Molson Coors Beverage in the 2nd quarter worth approximately $54,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on TAP shares. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Barclays raised their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. TD Cowen cut their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $62.00.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $59.25 on Wednesday. The company has a fifty day simple moving average of $58.62 and a two-hundred day simple moving average of $55.06. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

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

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 2.97%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 39.64%.

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.