Molson Coors Beverage (NYSE:TAP) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI increased its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,842 shares of the company's stock after purchasing an additional 30,913 shares during the quarter. National Bank of Canada FI owned 0.19% of Molson Coors Beverage worth $22,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Truvestments Capital LLC grew its holdings in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC boosted its position in shares of 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 buying an additional 428 shares in the last quarter. SRS Capital Advisors Inc. grew 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 valued at $42,000 after acquiring an additional 203 shares during the last quarter. Private Trust Co. NA increased its holdings in Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after acquiring an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Molson Coors Beverage by 101.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock worth $56,000 after acquiring an additional 489 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Trading Up 0.8 %

TAP stock opened at $62.48 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.52 and a beta of 0.81. The business has a fifty day simple moving average of $58.64 and a 200-day simple moving average of $57.87. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

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

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.47 dividend. 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. This represents a $1.88 annualized dividend and a yield of 3.01%. Molson Coors Beverage's dividend payout ratio (DPR) is presently 35.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. UBS Group raised 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 note on Friday, February 14th. Barclays dropped their price target on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Morgan Stanley lifted their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price 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. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and an average target price of $65.06.

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.

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