iA Global Asset Management Inc. Has $848,000 Holdings in Molson Coors Beverage (NYSE:TAP)

iA Global Asset Management Inc. reduced its stake in shares of Molson Coors Beverage (NYSE:TAP) by 20.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,789 shares of the company’s stock after selling 3,894 shares during the quarter. iA Global Asset Management Inc.’s holdings in Molson Coors Beverage were worth $848,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Truvestments Capital LLC raised its stake in shares of Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after buying an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Molson Coors Beverage by 101.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after buying an additional 489 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 0.5 %

Molson Coors Beverage stock opened at $58.72 on Friday. The company’s 50 day simple moving average is $57.56 and its 200 day simple moving average is $57.53. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 1.52 and a beta of 0.81. 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 (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.20%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Barclays upgraded shares of Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $56.00 to $62.00 in a research report on Thursday, March 13th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $63.67.

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.