Natixis Advisors LLC Buys 21,758 Shares of Molson Coors Beverage Company (NYSE:TAP)

Key Points

• Natixis Advisors LLC increased its stake in Molson Coors Beverage Company by 50.4%, now holding 64,917 shares worth approximately $3.95 million as of the latest SEC filing.
• The company's stock has a current market cap of $10.15 billion, with a 52-week price range between $46.94 and $64.66.
• Molson Coors announced a quarterly dividend of $0.47 per share, with a yield of 3.7%, reflecting a dividend payout ratio of 37.83%.

Natixis Advisors LLC lifted its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 50.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 64,917 shares of the company's stock after purchasing an additional 21,758 shares during the quarter. Natixis Advisors LLC's holdings in Molson Coors Beverage were worth $3,951,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DoubleLine ETF Adviser LP boosted its position in Molson Coors Beverage by 1.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock worth $590,000 after purchasing an additional 170 shares during the period. Twin Capital Management Inc. lifted its stake in shares of Molson Coors Beverage by 0.7% in the first quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock worth $1,509,000 after buying an additional 180 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 0.4% during the 4th quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after buying an additional 206 shares during the period. Forum Financial Management LP boosted its holdings in shares of Molson Coors Beverage by 4.4% during the 4th quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock worth $299,000 after buying an additional 220 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in Molson Coors Beverage by 3.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 7,014 shares of the company's stock valued at $402,000 after buying an additional 249 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP traded down $0.83 during trading hours on Thursday, reaching $49.38. The stock had a trading volume of 3,499,211 shares, compared to its average volume of 2,600,512. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 3.10 and a beta of 0.67. Molson Coors Beverage Company has a twelve month low of $46.94 and a twelve month high of $64.66. The business's fifty day moving average is $49.97 and its two-hundred day moving average is $55.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.59.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The business's revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.8%. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.83%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TAP shares. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Morgan Stanley decreased their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a research note on Wednesday. Bank of America downgraded Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Finally, Citigroup cut their price target on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and an average price target of $58.05.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the sale, the director directly owned 27,595 shares of the company's stock, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.71% of the stock is currently owned by corporate insiders.

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.