Asset Management One Co. Ltd. Decreases Position in Molson Coors Beverage (NYSE:TAP)

Asset Management One Co. Ltd. cut its position in Molson Coors Beverage (NYSE:TAP) by 0.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 68,227 shares of the company’s stock after selling 306 shares during the period. Asset Management One Co. Ltd.’s holdings in Molson Coors Beverage were worth $3,945,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Clark Estates Inc. NY raised its holdings in Molson Coors Beverage by 18.1% in the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after buying an additional 9,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Molson Coors Beverage by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after buying an additional 563 shares during the last quarter. Wilsey Asset Management Inc. raised its holdings in Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock worth $31,557,000 after buying an additional 8,679 shares during the last quarter. Qsemble Capital Management LP grew its stake in shares of Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after acquiring an additional 9,234 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Molson Coors Beverage by 4.7% in the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after acquiring an additional 9,510 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. 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. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley lifted their price target on shares of 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.27.

Molson Coors Beverage Stock Performance

TAP opened at $60.16 on Thursday. The firm has a market cap of $12.39 billion, a P/E ratio of 11.24, a PEG ratio of 2.23 and a beta of 0.85. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a 50 day simple moving average of $56.43 and a two-hundred day simple moving average of $56.49. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Equities analysts forecast that Molson Coors Beverage will post 6.11 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be given a $0.47 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 32.90%.

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.