Arizona State Retirement System Has $3.03 Million Position in Molson Coors Beverage (NYSE:TAP)

Arizona State Retirement System decreased its holdings in Molson Coors Beverage (NYSE:TAP) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 52,789 shares of the company’s stock after selling 491 shares during the quarter. Arizona State Retirement System’s holdings in Molson Coors Beverage were worth $3,026,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage in the third quarter worth about $35,000. Gladius Capital Management LP bought a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $42,000. Catalyst Capital Advisors LLC grew 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 purchasing an additional 428 shares during the period. SRS Capital Advisors Inc. raised its holdings 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 worth $42,000 after buying an additional 203 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after buying an additional 276 shares during the period. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Up 4.2 %

Shares of TAP opened at $61.91 on Monday. The stock’s fifty day simple moving average is $56.83 and its 200-day simple moving average is $57.17. The firm has a market capitalization of $12.54 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

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

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 27th. 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 yield of 3.04%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. UBS Group increased their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Company 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.