CIBC Asset Management Inc Buys 457 Shares of Molson Coors Beverage (NYSE:TAP)

CIBC Asset Management Inc increased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,506 shares of the company’s stock after acquiring an additional 457 shares during the quarter. CIBC Asset Management Inc’s holdings in Molson Coors Beverage were worth $1,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Creative Planning grew its holdings in shares of Molson Coors Beverage by 14.7% in the third quarter. Creative Planning now owns 18,890 shares of the company’s stock worth $1,087,000 after purchasing an additional 2,418 shares during the last quarter. Blue Trust Inc. grew its holdings in Molson Coors Beverage by 63.3% in the 3rd quarter. Blue Trust Inc. now owns 2,951 shares of the company’s stock worth $170,000 after acquiring an additional 1,144 shares during the last quarter. Private Advisor Group LLC grew its holdings in Molson Coors Beverage by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock worth $1,845,000 after acquiring an additional 277 shares during the last quarter. Greenleaf Trust increased its position in shares of Molson Coors Beverage by 22.6% in the third quarter. Greenleaf Trust now owns 8,825 shares of the company’s stock valued at $508,000 after acquiring an additional 1,625 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of Molson Coors Beverage by 1,711.8% during the third quarter. International Assets Investment Management LLC now owns 54,880 shares of the company’s stock valued at $3,157,000 after acquiring an additional 51,851 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Down 0.2 %

NYSE:TAP opened at $60.29 on Friday. The firm has a market capitalization of $12.42 billion, a P/E ratio of 11.27, a PEG ratio of 1.51 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company’s 50-day simple moving average is $56.41 and its 200 day simple moving average is $56.58.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is currently 32.90%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TAP. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the company from $57.00 to $70.00 in a report on Friday, December 6th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage 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.