Asset Management One Co. Ltd. Lowers Holdings in Molson Coors Beverage (NYSE:TAP)

Asset Management One Co. Ltd. cut its position in Molson Coors Beverage (NYSE:TAP) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,227 shares of the company’s stock after selling 306 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Molson Coors Beverage were worth $3,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TAP. Creative Planning raised its position in shares of Molson Coors Beverage by 14.7% during the 3rd quarter. Creative Planning now owns 18,890 shares of the company’s stock valued at $1,087,000 after buying an additional 2,418 shares in the last quarter. Blue Trust Inc. raised its position in shares of Molson Coors Beverage by 63.3% during the 3rd quarter. Blue Trust Inc. now owns 2,951 shares of the company’s stock valued at $170,000 after buying an additional 1,144 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Molson Coors Beverage by 0.9% during the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after buying an additional 277 shares in the last quarter. Greenleaf Trust raised its position in shares of Molson Coors Beverage by 22.6% during the 3rd quarter. Greenleaf Trust now owns 8,825 shares of the company’s stock valued at $508,000 after buying an additional 1,625 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Molson Coors Beverage by 1,711.8% during the 3rd quarter. International Assets Investment Management LLC now owns 54,880 shares of the company’s stock valued at $3,157,000 after buying an additional 51,851 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday. Morgan Stanley increased their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price target for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus target price of $63.27.

Molson Coors Beverage Trading Down 0.8 %

Shares of NYSE TAP opened at $60.16 on Thursday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market cap of $12.39 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 2.23 and a beta of 0.85. The firm has a 50-day moving average of $56.43 and a 200 day 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 issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. As a group, sell-side analysts expect that Molson Coors Beverage will post 6.11 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is 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.