Mackenzie Financial Corp Decreases Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Mackenzie Financial Corp reduced its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,181 shares of the company’s stock after selling 752 shares during the quarter. Mackenzie Financial Corp’s holdings in Molson Coors Beverage were worth $1,358,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. IMPACTfolio LLC grew its stake in Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares during the period. Syntax Advisors LLC boosted its stake in shares of Molson Coors Beverage by 5.0% in the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after purchasing an additional 185 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Molson Coors Beverage by 1.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock valued at $970,000 after purchasing an additional 196 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of Molson Coors Beverage by 4.5% in the third quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock valued at $317,000 after purchasing an additional 213 shares during the period. Finally, Seed Wealth Management Inc. boosted its stake in shares of Molson Coors Beverage by 7.6% in the fourth quarter. Seed Wealth Management Inc. now owns 3,531 shares of the company’s stock valued at $219,000 after purchasing an additional 250 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.71% of the stock is owned by corporate insiders.

Molson Coors Beverage Stock Down 0.7 %

TAP stock opened at $63.70 on Thursday. The stock has a market cap of $13.54 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 2.23 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $65.08 and its 200 day simple moving average is $62.30. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, February 13th. The company reported $1.19 EPS 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 analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $1.30 EPS. As a group, sell-side analysts predict that Molson Coors Beverage will post 5.67 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.44 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 2.76%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 40.37%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TAP. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Barclays upped their target price on shares of 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. Piper Sandler began coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. Finally, TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.