Northwest & Ethical Investments L.P. Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Northwest & Ethical Investments L.P. bought a new stake in shares of Molson Coors Beverage (NYSE:TAP) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,420 shares of the company’s stock, valued at approximately $483,000.

A number of other large investors have also recently modified their holdings of TAP. State Street Corp boosted its stake in shares of Molson Coors Beverage by 8.4% during the 3rd 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $27,660,000. Bank of New York Mellon Corp boosted its stake in shares of Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after purchasing an additional 434,250 shares in the last quarter. Invenomic Capital Management LP boosted its stake in shares of Molson Coors Beverage by 131.1% during the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after purchasing an additional 294,596 shares in the last quarter. Finally, LBP AM SA boosted its stake in shares of Molson Coors Beverage by 1,553.3% during the 4th quarter. LBP AM SA now owns 206,664 shares of the company’s stock valued at $11,846,000 after purchasing an additional 194,164 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $58.72 on Friday. The company has a 50 day moving average price of $57.56 and a 200-day moving average price of $57.53. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The firm has a market capitalization of $11.90 billion, a PE ratio of 10.98, a P/E/G ratio of 1.52 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. As a group, equities research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.20%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s payout ratio is 35.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, UBS Group lifted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.67.

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.