Natixis Advisors LLC Has $2.47 Million Holdings in Molson Coors Beverage (NYSE:TAP)

Natixis Advisors LLC grew its position in Molson Coors Beverage (NYSE:TAP) by 8.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,159 shares of the company’s stock after purchasing an additional 3,472 shares during the period. Natixis Advisors LLC’s holdings in Molson Coors Beverage were worth $2,474,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp increased its holdings in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after acquiring an additional 434,250 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Molson Coors Beverage by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock valued at $96,562,000 after acquiring an additional 33,234 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of Molson Coors Beverage by 5.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company’s stock valued at $50,472,000 after acquiring an additional 42,530 shares during the last quarter. Finally, RWC Asset Management LLP increased its holdings in shares of Molson Coors Beverage by 17.8% during the 4th quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock valued at $42,829,000 after acquiring an additional 113,091 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $58.72 on Monday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm has a market capitalization of $11.90 billion, a PE ratio of 10.98, a PEG ratio of 1.52 and a beta of 0.81. The business’s 50 day moving average is $57.56 and its 200-day moving average is $57.55. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

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

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.47 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.20%. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TAP. Morgan Stanley increased their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, BNP Paribas assumed coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.67.

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.