Caisse DE Depot ET Placement DU Quebec Has $45.90 Million Stake in Molson Coors Beverage (NYSE:TAP)

Caisse DE Depot ET Placement DU Quebec lessened its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 800,728 shares of the company's stock after selling 16,982 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.39% of Molson Coors Beverage worth $45,898,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TAP. Truvestments Capital LLC boosted its holdings in shares of Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Quarry LP raised its holdings in shares of Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after buying an additional 254 shares during the period. Catalyst Capital Advisors LLC raised its stake in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after purchasing an additional 428 shares during the period. SRS Capital Advisors Inc. lifted its position in shares of Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after purchasing an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 0.2 %

TAP traded up $0.14 during midday trading on Wednesday, hitting $57.04. 844,110 shares of the company's stock traded hands, compared to its average volume of 2,227,529. 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 company has a market cap of $11.56 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The stock's fifty day simple moving average is $59.44 and its 200-day simple moving average is $58.44. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping 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 business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. As a group, equities analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.47 per share. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.30%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio is presently 35.14%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on 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. Barclays dropped their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. UBS Group boosted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Berenberg Bank assumed coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target for the company. Finally, Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $64.14.

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.