Molson Coors Beverage (NYSE:TAP) Sees Significant Increase in Short Interest

Molson Coors Beverage (NYSE:TAP) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 9,220,000 shares, a growth 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 currently 4.9 days. Currently, 5.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new stake in Molson Coors Beverage in the second quarter worth about $26,000. Altshuler Shaham Ltd purchased a new position in shares of Molson Coors Beverage in the 2nd quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC boosted its stake in 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 purchasing an additional 294 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $35,000. Finally, Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the 3rd quarter valued at approximately $42,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on TAP shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler lifted their price target 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. UBS Group upped their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $60.00.

Molson Coors Beverage Stock Down 0.4 %

Shares of NYSE TAP traded down $0.25 during midday trading on Monday, reaching $61.81. 1,874,704 shares of the company’s stock traded hands, compared to its average volume of 1,910,741. The stock’s 50 day simple moving average is $57.43 and its 200-day simple moving average is $54.53. 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 company has a market cap of $12.73 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 2.40 and a beta of 0.82. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data 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 firm had revenue of $3.04 billion for 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 earned $1.92 EPS. On average, analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 2.85%. Molson Coors Beverage’s dividend payout ratio (DPR) is 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.