iA Global Asset Management Inc. Has $848,000 Holdings in Molson Coors Beverage (NYSE:TAP)

iA Global Asset Management Inc. lowered its position in shares of Molson Coors Beverage (NYSE:TAP) by 20.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,789 shares of the company’s stock after selling 3,894 shares during the quarter. iA Global Asset Management Inc.’s holdings in Molson Coors Beverage were worth $848,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Royal London Asset Management Ltd. raised its holdings in shares of Molson Coors Beverage by 4.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 476,103 shares of the company’s stock valued at $27,290,000 after acquiring an additional 18,882 shares during the period. Parallel Advisors LLC raised its holdings in shares of Molson Coors Beverage by 8.3% during the fourth quarter. Parallel Advisors LLC now owns 7,029 shares of the company’s stock valued at $403,000 after acquiring an additional 538 shares during the period. Sovereign Investment Advisors LLC acquired a new stake in shares of Molson Coors Beverage during the fourth quarter valued at approximately $226,000. Natixis Advisors LLC raised its holdings in shares of Molson Coors Beverage by 8.7% during the fourth quarter. Natixis Advisors LLC now owns 43,159 shares of the company’s stock valued at $2,474,000 after acquiring an additional 3,472 shares during the period. Finally, Brandes Investment Partners LP raised its holdings in shares of Molson Coors Beverage by 0.8% during the fourth quarter. Brandes Investment Partners LP now owns 72,003 shares of the company’s stock valued at $4,127,000 after acquiring an additional 547 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TAP. UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays upgraded shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $56.00 to $62.00 in a research note on Thursday, March 13th. BNP Paribas began coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $63.67.

Molson Coors Beverage Price Performance

NYSE TAP opened at $58.72 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $57.56 and a 200 day simple moving average of $57.53. The company has a market cap of $11.90 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, sell-side analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

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.