Molson Coors Beverage (NYSE:TAP) Short Interest Update

Molson Coors Beverage (NYSE:TAP) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 9,220,000 shares, an increase of 27.3% from the October 31st total of 7,240,000 shares. Based on an average trading volume of 1,900,000 shares, the short-interest ratio is presently 4.9 days. Approximately 5.4% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research firms have recently commented on TAP. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Piper Sandler raised their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays upped their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. UBS Group increased their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.57.

Institutional Trading of Molson Coors Beverage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new position in shares of Molson Coors Beverage during the second quarter worth $26,000. Altshuler Shaham Ltd bought a new stake in shares of Molson Coors Beverage in the 2nd quarter worth $27,000. GPS Wealth Strategies Group LLC grew its holdings in shares of Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after acquiring an additional 294 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage during the 3rd quarter valued at $35,000. Finally, Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP traded up $0.81 during midday trading on Friday, reaching $62.06. 988,154 shares of the stock were exchanged, compared to its average volume of 1,910,897. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.37 and a beta of 0.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The business’s 50-day moving average price is $57.43 and its 200 day moving average price is $54.57.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) 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 net margin of 6.78% and a return on equity of 9.24%. The business’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 earnings per share. On average, sell-side analysts expect that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid 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 2.84%. Molson Coors Beverage’s dividend payout ratio 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.