Molson Coors Beverage (NYSE:TAP) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its position in Molson Coors Beverage (NYSE:TAP) by 12.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,724 shares of the company’s stock after buying an additional 2,372 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Molson Coors Beverage were worth $1,197,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at about $35,000. Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage during the 3rd quarter worth approximately $42,000. True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $59,000. Allworth Financial LP boosted its stake in shares of Molson Coors Beverage by 33.7% in the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after buying an additional 297 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new position in Molson Coors Beverage during the third quarter worth $77,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

TAP has been the subject of a number of recent analyst reports. Barclays reduced their target price on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. UBS Group reduced their price target on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.36.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $54.00 on Wednesday. The stock has a market capitalization of $11.12 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.07 and a beta of 0.85. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The firm’s 50-day moving average is $56.74 and its two-hundred day moving average is $56.27.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.26%. Molson Coors Beverage’s payout ratio is currently 39.64%.

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.