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

PGGM Investments boosted its position in Molson Coors Beverage (NYSE:TAP) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,532 shares of the company’s stock after purchasing an additional 1,430 shares during the period. PGGM Investments’ holdings in Molson Coors Beverage were worth $951,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Czech National Bank boosted its holdings in shares of Molson Coors Beverage by 46.0% in the third quarter. Czech National Bank now owns 32,441 shares of the company’s stock worth $2,063,000 after buying an additional 10,216 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Molson Coors Beverage by 1.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 74,853 shares of the company’s stock worth $4,760,000 after acquiring an additional 869 shares during the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in shares of Molson Coors Beverage in the 3rd quarter worth $725,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Molson Coors Beverage by 5.4% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 76,766 shares of the company’s stock worth $4,882,000 after purchasing an additional 3,900 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Molson Coors Beverage by 7.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,897 shares of the company’s stock valued at $2,156,000 after purchasing an additional 2,279 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.71% of the company’s stock.

Molson Coors Beverage Trading Up 1.6 %

TAP opened at $63.52 on Tuesday. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $65.15 and a 200 day moving average of $62.37. The firm has a market cap of $13.50 billion, a P/E ratio of 14.57, a P/E/G ratio of 2.16 and a beta of 0.84.

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

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.44 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is 40.37%.

Analyst Ratings Changes

Several research analysts have recently commented on TAP shares. Piper Sandler initiated coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective on the stock. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Finally, Citigroup cut Molson Coors Beverage from a “neutral” rating to a “sell” rating and decreased their price target for the company from $66.00 to $56.00 in a report on Wednesday, April 24th. Two 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $68.07.

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.