National Bank of Canada FI Grows Stock Holdings in Molson Coors Beverage (NYSE:TAP)

National Bank of Canada FI raised its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 52.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 369,929 shares of the company's stock after buying an additional 126,527 shares during the period. National Bank of Canada FI owned about 0.18% of Molson Coors Beverage worth $21,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC increased its holdings in Molson Coors Beverage by 99.2% during the 2nd quarter. CWM LLC now owns 11,198 shares of the company's stock worth $569,000 after purchasing an additional 5,576 shares in the last quarter. Czech National Bank lifted its holdings in Molson Coors Beverage by 6.4% during the second quarter. Czech National Bank now owns 34,651 shares of the company's stock worth $1,761,000 after acquiring an additional 2,071 shares during the period. M&G Plc increased its position in shares of Molson Coors Beverage by 7.4% during the 2nd quarter. M&G Plc now owns 273,378 shares of the company's stock valued at $13,942,000 after purchasing an additional 18,889 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Molson Coors Beverage by 8.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,330 shares of the company's stock worth $881,000 after purchasing an additional 1,410 shares during the period. Finally, V Square Quantitative Management LLC raised its stake in Molson Coors Beverage by 41.0% in the 2nd quarter. V Square Quantitative Management LLC now owns 4,973 shares of the company's stock valued at $253,000 after acquiring an additional 1,445 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TAP shares. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a "neutral" rating and a $64.00 price target on the stock. TD Cowen dropped their target price on Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a research report on Tuesday, October 8th. Bank of America upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $57.00 to $70.00 in a research note on Friday. Barclays lifted their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the company an "underweight" rating in a report on Monday, November 11th. Finally, Hsbc Global Res cut shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and a consensus target price of $62.00.

Molson Coors Beverage Stock Up 0.0 %

TAP traded up $0.02 during trading on Tuesday, hitting $61.59. 1,591,107 shares of the company's stock traded hands, compared to its average volume of 1,908,911. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company's 50 day simple moving average is $58.14 and its two-hundred day simple moving average is $54.79. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 2.37 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.92 EPS. Analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.86%. Molson Coors Beverage's dividend payout ratio is currently 39.64%.

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.