Lbp Am Sa Acquires 194,164 Shares of Molson Coors Beverage (NYSE:TAP)

LBP AM SA lifted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 1,553.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,664 shares of the company's stock after buying an additional 194,164 shares during the period. LBP AM SA owned about 0.10% of Molson Coors Beverage worth $11,846,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TAP. Truvestments Capital LLC raised its holdings in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after buying an additional 202 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Molson Coors Beverage in the 3rd quarter worth approximately $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the 3rd quarter worth approximately $42,000. Catalyst Capital Advisors LLC increased its stake in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares during the period. Finally, SRS Capital Advisors Inc. increased its stake in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TAP. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. JPMorgan Chase & Co. reduced their target price on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. Barclays raised Molson Coors Beverage from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $56.00 to $62.00 in a research note on Thursday, March 13th. Morgan Stanley boosted their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Finally, Bank of America raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their target price for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $63.67.

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Molson Coors Beverage Stock Down 1.1 %

Shares of NYSE TAP traded down $0.64 during trading on Wednesday, reaching $58.30. The company had a trading volume of 2,245,807 shares, compared to its average volume of 1,917,875. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The stock has a market cap of $11.81 billion, a PE ratio of 10.90, a P/E/G ratio of 1.52 and a beta of 0.81. The business's 50-day moving average is $57.32 and its 200 day moving average is $57.48. 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 - Get Free Report) last released its 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 return on equity of 9.34% and a net margin of 8.17%. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. As a group, equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a $0.47 dividend. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio is currently 35.14%.

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.