Northwest & Ethical Investments L.P. Takes $483,000 Position in Molson Coors Beverage (NYSE:TAP)

Northwest & Ethical Investments L.P. purchased a new stake in Molson Coors Beverage (NYSE:TAP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 8,420 shares of the company’s stock, valued at approximately $483,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Royal London Asset Management Ltd. raised its position in shares of Molson Coors Beverage by 4.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 476,103 shares of the company’s stock valued at $27,290,000 after purchasing an additional 18,882 shares during the period. Parallel Advisors LLC increased its holdings in Molson Coors Beverage by 8.3% during the 4th quarter. Parallel Advisors LLC now owns 7,029 shares of the company’s stock worth $403,000 after acquiring an additional 538 shares during the period. Sovereign Investment Advisors LLC bought a new stake in Molson Coors Beverage during the 4th quarter worth approximately $226,000. Natixis Advisors LLC increased its holdings in Molson Coors Beverage by 8.7% during the 4th quarter. Natixis Advisors LLC now owns 43,159 shares of the company’s stock worth $2,474,000 after acquiring an additional 3,472 shares during the period. Finally, Brandes Investment Partners LP increased its holdings in Molson Coors Beverage by 0.8% during the 4th quarter. Brandes Investment Partners LP now owns 72,003 shares of the company’s stock worth $4,127,000 after acquiring an additional 547 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TAP. UBS Group upped their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Barclays raised shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $56.00 to $62.00 in a report on Thursday, March 13th. JPMorgan Chase & Co. decreased their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.67.

Molson Coors Beverage Price Performance

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

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

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.