National Bank of Canada FI Raises Holdings in Molson Coors Beverage Company (NYSE:TAP)

Key Points

• National Bank of Canada FI increased its stake in Molson Coors Beverage Company by **4.0%**, now owning approximately **416,880 shares** valued at **$25.38 million**.
• Multiple hedge funds, including **Deutsche Bank AG** and **Bank of New York Mellon Corp**, have also expanded their holdings in Molson Coors, indicating strong institutional interest as **78.46% of shares** are held by institutional investors.
• Molson Coors recently announced a **quarterly dividend** of **$0.47 per share**, with a current annualized dividend yield of **3.7%**, as part of its strategy to provide returns to shareholders.

National Bank of Canada FI raised its holdings in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 416,880 shares of the company's stock after acquiring an additional 16,038 shares during the quarter. National Bank of Canada FI owned approximately 0.21% of Molson Coors Beverage worth $25,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of TAP. Cerity Partners LLC grew its position in Molson Coors Beverage by 6.1% in the 4th quarter. Cerity Partners LLC now owns 97,602 shares of the company's stock valued at $5,599,000 after acquiring an additional 5,602 shares during the last quarter. Bank of Nova Scotia grew its position in Molson Coors Beverage by 2.5% in the 4th quarter. Bank of Nova Scotia now owns 24,059 shares of the company's stock valued at $1,379,000 after acquiring an additional 579 shares during the last quarter. Advisory Services Network LLC grew its position in Molson Coors Beverage by 175.7% in the 4th quarter. Advisory Services Network LLC now owns 21,098 shares of the company's stock valued at $1,209,000 after acquiring an additional 13,446 shares during the last quarter. Raymond James Financial Inc. bought a new position in Molson Coors Beverage in the 4th quarter valued at $27,660,000. Finally, Bessemer Group Inc. raised its position in Molson Coors Beverage by 5.2% during the 4th quarter. Bessemer Group Inc. now owns 34,698 shares of the company's stock valued at $1,990,000 after purchasing an additional 1,713 shares in the last quarter. Institutional investors own 78.46% of the company's stock.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction dated 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 owned 27,595 shares in the company, valued at approximately $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.71% of the company's stock.

Molson Coors Beverage Stock Down 0.8%

TAP stock traded down $0.44 on Thursday, hitting $51.28. 1,266,924 shares of the company's stock were exchanged, compared to its average volume of 2,479,085. Molson Coors Beverage Company has a 12-month low of $46.94 and a 12-month high of $64.66. The firm has a 50 day moving average price of $49.81 and a two-hundred day moving average price of $55.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The stock has a market cap of $10.37 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.86 and a beta of 0.67.

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

Molson Coors Beverage Dividend Announcement

The company 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. This represents a $1.88 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's payout ratio is presently 37.08%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore ISI lowered their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Sanford C. Bernstein lowered their target price on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a report on Wednesday, July 9th. Needham & Company LLC lowered their target price on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Piper Sandler lowered their target price on Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a report on Monday, June 23rd. Finally, Morgan Stanley lowered their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, August 6th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $58.12.

Molson Coors Beverage Company 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.