Molson Coors Beverage (NYSE:TAP) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 44.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,423 shares of the company’s stock after purchasing an additional 3,520 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Molson Coors Beverage were worth $655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Truvestments Capital LLC boosted its stake in shares of Molson Coors Beverage by 51.4% during 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 during the last quarter. Catalyst Capital Advisors LLC boosted its stake in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 428 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares in the last quarter. Private Trust Co. NA increased its position 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 worth $46,000 after purchasing an additional 276 shares during 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 purchasing an additional 489 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TAP shares. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. UBS Group lifted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. 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 on the stock in a report on Thursday, January 30th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.60.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $60.98 on Friday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.35 billion, a PE ratio of 11.40, a P/E/G ratio of 1.52 and a beta of 0.81. The stock has a 50 day simple moving average of $58.00 and a 200-day simple moving average of $57.64.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. On average, equities research analysts forecast 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 paid a dividend of $0.47 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.08%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

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.