Caisse Des Depots ET Consignations Makes New $980,000 Investment in Molson Coors Beverage (NYSE:TAP)

Caisse Des Depots ET Consignations bought a new stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,089 shares of the company's stock, valued at approximately $980,000.

Other hedge funds also recently modified their holdings of the company. State Street Corp boosted its holdings in Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company's stock worth $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Molson Coors Beverage in the 4th quarter worth about $27,660,000. Bank of New York Mellon Corp increased its stake in Molson Coors Beverage by 14.0% in 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 buying an additional 434,250 shares during the last quarter. Invenomic Capital Management LP lifted its position 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 worth $29,875,000 after buying an additional 294,596 shares in the last quarter. Finally, LBP AM SA grew its holdings in shares of Molson Coors Beverage by 1,553.3% in the fourth quarter. LBP AM SA now owns 206,664 shares of the company's stock valued at $11,846,000 after acquiring an additional 194,164 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays dropped their price target on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a report on Thursday. Morgan Stanley lifted their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Needham & Company LLC restated a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. UBS Group lifted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage has a consensus rating of "Hold" and an average target price of $63.60.

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Molson Coors Beverage Price Performance

Shares of TAP traded up $0.63 during midday trading on Monday, hitting $61.16. 916,073 shares of the company traded hands, compared to its average volume of 2,024,659. The stock has a 50-day moving average of $58.11 and a 200-day moving average of $57.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The firm has a market cap of $12.39 billion, a P/E ratio of 11.43, a PEG ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal 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 3.07%. This is a boost 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 presently 35.14%.

Molson Coors Beverage 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.