Virtu Financial LLC Buys 7,046 Shares of Molson Coors Beverage (NYSE:TAP)

Virtu Financial LLC grew its stake in Molson Coors Beverage (NYSE:TAP) by 148.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,801 shares of the company’s stock after acquiring an additional 7,046 shares during the period. Virtu Financial LLC’s holdings in Molson Coors Beverage were worth $679,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp boosted its holdings in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after purchasing an additional 681,757 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Molson Coors Beverage by 66.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after buying an additional 2,155,842 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Molson Coors Beverage by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after buying an additional 434,685 shares in the last quarter. River Road Asset Management LLC grew its position in shares of Molson Coors Beverage by 1.8% during the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock worth $96,475,000 after buying an additional 29,315 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC purchased a new position in shares of Molson Coors Beverage during the third quarter valued at $48,202,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $61.07 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The business’s 50 day moving average price is $58.53 and its 200 day moving average price is $55.00. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.58 billion, a P/E ratio of 13.75, a P/E/G ratio of 2.38 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm earned $1.92 EPS. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, sell-side analysts expect 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 will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of research reports. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Needham & Company LLC started coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective on the stock. TD Cowen reduced their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.