Addenda Capital Inc. Raises Stock Position in Molson Coors Beverage (NYSE:TAP)

Addenda Capital Inc. raised its holdings in Molson Coors Beverage (NYSE:TAP) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,915 shares of the company’s stock after purchasing an additional 1,573 shares during the quarter. Addenda Capital Inc.’s holdings in Molson Coors Beverage were worth $798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its position in shares of Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in shares of Molson Coors Beverage by 4.7% in the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after acquiring an additional 185 shares during the last quarter. Perpetual Ltd lifted its holdings in Molson Coors Beverage by 1.0% in the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after purchasing an additional 197 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after acquiring an additional 199 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its position in shares of Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after purchasing an additional 274 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 0.6 %

Shares of NYSE TAP opened at $55.33 on Tuesday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The business has a fifty day moving average of $58.99 and a two-hundred day moving average of $56.00. The stock has a market cap of $11.40 billion, a PE ratio of 12.46, a PEG ratio of 1.96 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company posted $1.92 earnings per share. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is presently 39.64%.

Analyst Ratings Changes

Several analysts have commented on the company. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. UBS Group dropped their price target on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. TD Cowen decreased their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. BNP Paribas began coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. Finally, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.79.

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.