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

National Bank of Canada FI lifted its stake in Molson Coors Beverage (NYSE:TAP) by 8.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 400,842 shares of the company’s stock after acquiring an additional 30,913 shares during the quarter. National Bank of Canada FI’s holdings in Molson Coors Beverage were worth $22,976,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in Molson Coors Beverage during the 4th quarter worth $142,407,000. State Street Corp increased its position in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Molson Coors Beverage in the fourth quarter worth about $27,660,000. Bank of New York Mellon Corp boosted its holdings in Molson Coors Beverage by 14.0% in 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. Finally, LBP AM SA grew its stake in Molson Coors Beverage by 1,553.3% during the 4th quarter. LBP AM SA now owns 206,664 shares of the company’s stock valued at $11,846,000 after purchasing an additional 194,164 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $62.48 on Friday. 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 firm has a market capitalization of $12.66 billion, a PE ratio of 11.68, 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. The business’s fifty day moving average price is $58.64 and its two-hundred day moving average price is $57.87.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion for 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, 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. 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 3.01%. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TAP shares. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Berenberg Bank started coverage on shares of Molson Coors Beverage in a research report on Wednesday. They issued a “buy” rating and a $86.90 target price for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.