Nordea Investment Management AB Has $12.38 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

Nordea Investment Management AB boosted its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 92.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,413 shares of the company’s stock after buying an additional 103,883 shares during the quarter. Nordea Investment Management AB owned approximately 0.11% of Molson Coors Beverage worth $12,383,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TAP. Altshuler Shaham Ltd bought a new position in shares of Molson Coors Beverage during the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC bought a new position in Molson Coors Beverage during the third quarter worth $35,000. Gladius Capital Management LP acquired a new position in shares of Molson Coors Beverage in the third quarter valued at $42,000. True Wealth Design LLC bought a new position in shares of Molson Coors Beverage in the third quarter valued at about $59,000. Finally, Quarry LP acquired a new stake in shares of Molson Coors Beverage during the 2nd quarter worth about $54,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $55.62 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a market cap of $11.46 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. The company has a 50 day moving average of $59.36 and a 200-day moving average of $55.75. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Wall Street Analyst Weigh In

TAP has been the topic of a number of research reports. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. Barclays boosted their price target on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.00.

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.