IFM Investors Pty Ltd Has $3.26 Million Stake in Molson Coors Beverage (NYSE:TAP)

IFM Investors Pty Ltd increased its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 36.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,513 shares of the company’s stock after acquiring 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 SEC filing.

A number of other large investors have also added to or reduced their stakes in TAP. Kestra Private Wealth Services LLC increased its holdings in shares of Molson Coors Beverage by 19.5% in the third quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock valued at $726,000 after purchasing an additional 1,859 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Molson Coors Beverage by 6,418.1% in the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after acquiring an additional 149,093 shares during the period. SkyView Investment Advisors LLC lifted its position in Molson Coors Beverage by 3.4% during the third quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock worth $785,000 after acquiring an additional 408 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Molson Coors Beverage by 24.2% during the third quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock worth $712,000 after acquiring an additional 2,183 shares during the period. Finally, Savoir Faire Capital Management L.P. acquired a new position in shares of Molson Coors Beverage in the third quarter valued at approximately $3,245,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded down $0.28 during mid-day trading on Friday, hitting $62.54. 1,404,619 shares of the stock traded hands, compared to its average volume of 1,614,564. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The firm has a 50 day simple moving average of $65.14 and a two-hundred day simple moving average of $62.31. 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 company has a market cap of $13.30 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.17 and a beta of 0.84.

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

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s payout ratio is 40.37%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TAP shares. Piper Sandler started coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target for the company. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Barclays boosted their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Finally, Citigroup downgraded shares of Molson Coors Beverage from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $66.00 to $56.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price of $68.07.

Insider Buying and Selling

In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction 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 transaction, 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 SEC, which can be accessed through the SEC website. 2.71% of the stock is currently owned by insiders.

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.