First Hawaiian Bank Grows Position in Molson Coors Beverage (NYSE:TAP)

First Hawaiian Bank lifted its position in Molson Coors Beverage (NYSE:TAP) by 2.0% during the 4th quarter, Holdings Channel reports. The firm owned 20,195 shares of the company’s stock after acquiring an additional 394 shares during the period. First Hawaiian Bank’s holdings in Molson Coors Beverage were worth $1,158,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Clark Estates Inc. NY increased its position in shares of Molson Coors Beverage by 18.1% in the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after acquiring an additional 9,200 shares during the period. Qsemble Capital Management LP increased its holdings in Molson Coors Beverage by 23.5% during the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after purchasing an additional 9,234 shares during the period. Principal Financial Group Inc. raised its position in Molson Coors Beverage by 4.7% during the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after purchasing an additional 9,510 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in Molson Coors Beverage in the 2nd quarter worth approximately $1,237,000. Finally, FMR LLC grew its position in shares of Molson Coors Beverage by 23.2% in the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after buying an additional 134,689 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Up 0.8 %

Shares of Molson Coors Beverage stock opened at $55.62 on Friday. The company has a 50-day simple moving average of $59.38 and a two-hundred day simple moving average of $55.75. The stock has a market capitalization 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. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

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

Molson Coors Beverage Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently commented on TAP shares. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. 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 raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. increased their target price 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 analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.00.

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.