M&T Bank Corp Raises Stock Holdings in Molson Coors Beverage (NYSE:TAP)

M&T Bank Corp boosted its stake in Molson Coors Beverage (NYSE:TAP) by 14.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 14,038 shares of the company’s stock after acquiring an additional 1,792 shares during the period. M&T Bank Corp’s holdings in Molson Coors Beverage were worth $804,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Clark Estates Inc. NY increased its stake in Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after purchasing an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares during the period. Unified Investment Management purchased a new stake in Molson Coors Beverage during the fourth quarter worth about $871,000. Wilsey Asset Management Inc. increased its stake in Molson Coors Beverage by 1.6% during the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock worth $31,557,000 after purchasing an additional 8,679 shares during the period. Finally, Qsemble Capital Management LP increased its stake in Molson Coors Beverage by 23.5% during the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after purchasing an additional 9,234 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $60.35 on Wednesday. The stock has a 50 day moving average price of $57.01 and a 200 day moving average price of $57.29. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of recent research reports. UBS Group boosted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. cut their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays boosted their price objective on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Finally, Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $63.27.

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.