Molson Coors Beverage (NYSE:TAP) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC raised its position in shares of Molson Coors Beverage (NYSE:TAP) by 20.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,687 shares of the company’s stock after purchasing an additional 6,723 shares during the quarter. Natixis Advisors LLC’s holdings in Molson Coors Beverage were worth $2,283,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TAP. Family Firm Inc. purchased a new stake in Molson Coors Beverage in the second quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new stake in Molson Coors Beverage during the 2nd quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC lifted its stake in Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after acquiring an additional 294 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter worth $35,000. Finally, Quarry LP acquired a new stake in shares of Molson Coors Beverage in the second quarter worth $54,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 0.2 %

Shares of NYSE TAP opened at $60.36 on Monday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The company’s 50-day simple moving average is $56.84 and its 200-day simple moving average is $54.43. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm posted $1.92 EPS. Molson Coors Beverage’s revenue was down 7.8% compared to the same quarter last year. Equities analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Cowen lowered their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Piper Sandler lifted their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. UBS Group upped their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. 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’s stock. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $60.31.

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.