Desjardins Global Asset Management Inc. Buys 660 Shares of Molson Coors Beverage (NYSE:TAP)

Desjardins Global Asset Management Inc. lifted its stake in Molson Coors Beverage (NYSE:TAP) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TAP. Raymond James Financial Services Advisors Inc. grew its stake in shares of Molson Coors Beverage by 25.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company’s stock worth $1,242,000 after acquiring an additional 4,792 shares during the period. American Century Companies Inc. boosted its holdings in shares of Molson Coors Beverage by 17.1% in the first quarter. American Century Companies Inc. now owns 18,462 shares of the company’s stock worth $985,000 after buying an additional 2,700 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Molson Coors Beverage by 45.7% in the first quarter. US Bancorp DE now owns 3,834 shares of the company’s stock worth $205,000 after buying an additional 1,203 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Molson Coors Beverage by 4.5% in the first quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company’s stock worth $889,000 after buying an additional 720 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in shares of Molson Coors Beverage by 26.3% in the first quarter. Natixis Advisors L.P. now owns 14,411 shares of the company’s stock worth $769,000 after buying an additional 3,001 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Down 2.3 %

Shares of TAP stock opened at $63.26 on Wednesday. The company’s 50-day moving average price is $64.75 and its 200-day moving average price is $62.20. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The stock has a market cap of $13.65 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.26 and a beta of 0.84. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90.

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

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.44 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.78%. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s payout ratio is 40.37%.

Analyst Upgrades and Downgrades

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

Insider Activity at Molson Coors Beverage

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

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.