Desjardins Global Asset Management Inc. Has $2.17 Million Holdings in Molson Coors Beverage (NYSE:TAP)

Desjardins Global Asset Management Inc. lifted its holdings in Molson Coors Beverage (NYSE:TAP) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,497 shares of the company’s stock after acquiring an additional 660 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Molson Coors Beverage were worth $2,172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Belpointe Asset Management LLC boosted its holdings in shares of Molson Coors Beverage by 12.7% in the 1st quarter. Belpointe Asset Management LLC now owns 1,521 shares of the company’s stock worth $79,000 after acquiring an additional 171 shares in the last quarter. IMPACTfolio LLC lifted its holdings in Molson Coors Beverage by 4.6% during the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares in the last quarter. Syntax Advisors LLC lifted its holdings in Molson Coors Beverage by 5.0% during the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after buying an additional 185 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Molson Coors Beverage by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock worth $970,000 after buying an additional 196 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in Molson Coors Beverage by 4.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock worth $317,000 after buying an additional 213 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays upped their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Citigroup upped their target price on shares of Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a research report on Tuesday. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Finally, The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $68.27.

Molson Coors Beverage Trading Down 2.3 %

Shares of TAP stock opened at $63.26 on Wednesday. The firm has a 50 day moving average price of $64.75 and a two-hundred day moving average price of $62.20. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $13.65 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business posted $1.30 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts predict that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 2.78%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 40.37%.

Insider Transactions at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.71% of the company’s stock.

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.