Northwest & Ethical Investments L.P. Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Northwest & Ethical Investments L.P. bought a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,420 shares of the company's stock, valued at approximately $483,000.

A number of other hedge funds have also added to or reduced their stakes in TAP. State Street Corp lifted its position 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 buying an additional 681,757 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock valued at $202,661,000 after purchasing an additional 434,250 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Molson Coors Beverage by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company's stock valued at $96,562,000 after purchasing an additional 33,234 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in Molson Coors Beverage by 5.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company's stock valued at $50,472,000 after purchasing an additional 42,530 shares in the last quarter. Finally, RWC Asset Management LLP increased its position in shares of Molson Coors Beverage by 17.8% during the 4th quarter. RWC Asset Management LLP now owns 747,184 shares of the company's stock worth $42,829,000 after purchasing an additional 113,091 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. BNP Paribas assumed coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a "neutral" rating and a $64.00 price objective for the company. Barclays upgraded shares of Molson Coors Beverage from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $56.00 to $62.00 in a research note on Thursday, March 13th. Morgan Stanley boosted their price objective on shares of 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. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and upped their target price for the company from $57.00 to $70.00 in a report on Friday, December 6th. Finally, UBS Group lifted their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $63.67.

Molson Coors Beverage Stock Performance

TAP traded down $0.58 during trading on Tuesday, hitting $58.69. The stock had a trading volume of 1,295,267 shares, compared to its average volume of 1,954,865. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The company has a 50 day moving average price of $57.76 and a 200-day moving average price of $57.59. 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 $11.89 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 1.52 and a beta of 0.81.

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

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend 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 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.