Addenda Capital Inc. Buys 1,573 Shares of Molson Coors Beverage (NYSE:TAP)

Addenda Capital Inc. lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 12.7% in the 4th quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Molson Coors Beverage by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after acquiring an additional 434,685 shares in the last quarter. Amalgamated Bank raised its holdings in Molson Coors Beverage by 51.2% in the 2nd quarter. Amalgamated Bank now owns 58,030 shares of the company’s stock valued at $2,950,000 after buying an additional 19,654 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Molson Coors Beverage by 14.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,529 shares of the company’s stock worth $737,000 after purchasing an additional 1,853 shares during the period. XTX Topco Ltd bought a new stake in shares of Molson Coors Beverage in the 2nd quarter valued at about $462,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Molson Coors Beverage by 91.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,300 shares of the company’s stock valued at $473,000 after buying an additional 4,438 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on TAP shares. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. UBS Group dropped their price target on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. TD Cowen dropped their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Finally, Needham & Company LLC initiated coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.79.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $55.33 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The business has a 50 day moving average of $58.99 and a 200 day moving average of $56.00. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 1.96 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the company posted $1.92 EPS. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued 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 dividend payout ratio (DPR) is 39.64%.

About Molson Coors Beverage

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.