Caisse Des Depots ET Consignations Invests $980,000 in Molson Coors Beverage (NYSE:TAP)

Caisse Des Depots ET Consignations bought a new stake in Molson Coors Beverage (NYSE:TAP) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 17,089 shares of the company’s stock, valued at approximately $980,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. NEOS Investment Management LLC increased its position in shares of Molson Coors Beverage by 25.6% during the fourth quarter. NEOS Investment Management LLC now owns 6,075 shares of the company’s stock worth $348,000 after purchasing an additional 1,238 shares in the last quarter. UniSuper Management Pty Ltd increased its position in Molson Coors Beverage by 1.7% during the fourth quarter. UniSuper Management Pty Ltd now owns 31,202 shares of the company’s stock worth $1,788,000 after buying an additional 526 shares during the period. Elo Mutual Pension Insurance Co lifted its stake in Molson Coors Beverage by 28.1% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 21,027 shares of the company’s stock valued at $1,205,000 after buying an additional 4,612 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Molson Coors Beverage by 13.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 284,883 shares of the company’s stock valued at $15,745,000 after acquiring an additional 34,268 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Molson Coors Beverage by 44.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,423 shares of the company’s stock worth $655,000 after acquiring an additional 3,520 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TAP. JPMorgan Chase & Co. decreased their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $70.00 in a report on Friday, December 6th. UBS Group upped their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $63.60.

Molson Coors Beverage Stock Up 0.7 %

Molson Coors Beverage stock opened at $60.98 on Friday. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The stock’s fifty day moving average is $58.00 and its two-hundred day moving average is $57.64.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.71 billion. Analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 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.