Invenomic Capital Management LP Purchases 966 Shares of Molson Coors Beverage (NYSE:TAP)

Invenomic Capital Management LP lifted its position in shares of Molson Coors Beverage (NYSE:TAPGet Rating) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,093 shares of the company’s stock after purchasing an additional 966 shares during the period. Invenomic Capital Management LP’s holdings in Molson Coors Beverage were worth $2,229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. bought a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $28,000. Dark Forest Capital Management LP bought a new stake in Molson Coors Beverage in the third quarter valued at approximately $30,000. Whittier Trust Co. boosted its holdings in Molson Coors Beverage by 162.6% in the fourth quarter. Whittier Trust Co. now owns 646 shares of the company’s stock valued at $30,000 after acquiring an additional 400 shares during the last quarter. Carroll Financial Associates Inc. boosted its holdings in Molson Coors Beverage by 80.5% in the fourth quarter. Carroll Financial Associates Inc. now owns 731 shares of the company’s stock valued at $33,000 after acquiring an additional 326 shares during the last quarter. Finally, CWM LLC bought a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $50,000. Institutional investors own 79.62% of the company’s stock.

Several analysts recently commented on the company. Sanford C. Bernstein cut Molson Coors Beverage from an “outperform” rating to a “market perform” rating and set a $59.00 target price on the stock. in a report on Tuesday, May 17th. StockNews.com began coverage on Molson Coors Beverage in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley increased their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, February 24th. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Wednesday, February 23rd. Finally, Citigroup increased their price target on Molson Coors Beverage from $58.00 to $61.00 in a report on Friday, May 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $54.33.

Shares of NYSE:TAP traded up $0.45 during trading on Friday, reaching $51.23. 1,624,683 shares of the stock were exchanged, compared to its average volume of 1,680,284. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.81 and a quick ratio of 0.54. Molson Coors Beverage has a 1-year low of $42.46 and a 1-year high of $61.48. The stock has a fifty day moving average of $53.62 and a two-hundred day moving average of $50.02. The firm has a market cap of $11.11 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 2.68 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAPGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Molson Coors Beverage had a return on equity of 7.12% and a net margin of 8.36%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm earned $0.01 earnings per share. Molson Coors Beverage’s revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts forecast that Molson Coors Beverage will post 4 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, June 3rd will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Thursday, June 2nd. Molson Coors Beverage’s payout ratio is currently 30.77%.

Molson Coors Beverage Company Profile (Get Rating)

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

Featured Articles

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage (NYSE:TAPGet Rating).

Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.