IFM Investors Pty Ltd Purchases 12,991 Shares of Molson Coors Beverage (NYSE:TAP)

IFM Investors Pty Ltd boosted its position in shares of Molson Coors Beverage (NYSE:TAP) by 36.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,513 shares of the company’s stock after buying an additional 12,991 shares during the quarter. IFM Investors Pty Ltd’s holdings in Molson Coors Beverage were worth $3,262,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank boosted its holdings in shares of Molson Coors Beverage by 0.5% during the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after purchasing an additional 149 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of Molson Coors Beverage by 1.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after buying an additional 174 shares during the last quarter. IMPACTfolio LLC increased its stake in shares of Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock valued at $246,000 after buying an additional 176 shares during the period. Syntax Advisors LLC raised its holdings in shares of Molson Coors Beverage by 5.0% during the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after acquiring an additional 185 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Molson Coors Beverage by 1.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock worth $970,000 after acquiring an additional 196 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th. Piper Sandler began coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price for the company. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. Finally, Barclays increased their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $68.07.

Molson Coors Beverage Stock Down 0.4 %

NYSE TAP traded down $0.28 during trading hours on Friday, hitting $62.54. 1,404,619 shares of the company were exchanged, compared to its average volume of 1,614,564. The company has a 50 day moving average of $65.14 and a two-hundred day moving average of $62.31. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.17 and a beta of 0.84. Molson Coors Beverage has a 52-week low of $55.67 and a 52-week high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. Molson Coors Beverage’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 earnings per share. Equities research analysts anticipate that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.44 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 2.81%. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s payout ratio is currently 40.37%.

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.