PGGM Investments Purchases 1,430 Shares of Molson Coors Beverage (NYSE:TAP)

PGGM Investments boosted its position in shares of Molson Coors Beverage (NYSE:TAP) by 10.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,532 shares of the company’s stock after purchasing an additional 1,430 shares during the quarter. PGGM Investments’ holdings in Molson Coors Beverage were worth $951,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TAP. Russell Investments Group Ltd. grew its position in shares of Molson Coors Beverage by 31.1% during the 4th quarter. Russell Investments Group Ltd. now owns 410,181 shares of the company’s stock worth $25,107,000 after buying an additional 97,198 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Molson Coors Beverage by 4.0% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 102,629 shares of the company’s stock worth $6,282,000 after purchasing an additional 3,924 shares during the period. Bfsg LLC bought a new position in shares of Molson Coors Beverage during the fourth quarter worth $119,000. NewSquare Capital LLC grew its holdings in shares of Molson Coors Beverage by 8.0% in the 4th quarter. NewSquare Capital LLC now owns 12,385 shares of the company’s stock valued at $758,000 after buying an additional 915 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Molson Coors Beverage in the 4th quarter valued at $92,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 1.6 %

Shares of Molson Coors Beverage stock opened at $63.52 on Tuesday. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.16 and a beta of 0.84. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The stock’s 50-day moving average is $65.15 and its 200 day moving average is $62.37.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company earned $1.30 EPS. Equities research analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 2.77%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 40.37%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

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.