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

Caisse Des Depots ET Consignations acquired a new stake in shares of Molson Coors Beverage (NYSE:TAP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,089 shares of the company’s stock, valued at approximately $980,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commerce Bank bought a new position in Molson Coors Beverage in the 3rd quarter valued at about $209,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Molson Coors Beverage in the third quarter worth $2,152,000. Cerity Partners LLC lifted its stake in Molson Coors Beverage by 200.2% in the 3rd quarter. Cerity Partners LLC now owns 92,000 shares of the company’s stock worth $5,292,000 after acquiring an additional 61,350 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Molson Coors Beverage by 10.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 23,872 shares of the company’s stock worth $1,374,000 after acquiring an additional 2,293 shares during the period. Finally, D.A. Davidson & CO. grew its stake in Molson Coors Beverage by 7.8% during the 3rd quarter. D.A. Davidson & CO. now owns 27,485 shares of the company’s stock valued at $1,581,000 after acquiring an additional 1,980 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Morgan Stanley lifted their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Barclays cut their target price on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.60.

Molson Coors Beverage Trading Up 0.7 %

NYSE:TAP opened at $60.98 on Friday. 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 0.70 and a current ratio of 0.94. The firm’s fifty day moving average is $58.00 and its 200-day moving average is $57.64. The firm has a market cap of $12.35 billion, a P/E ratio of 11.40, a P/E/G ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Equities analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is 35.14%.

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.