Elo Mutual Pension Insurance Co Grows Holdings in Molson Coors Beverage (NYSE:TAP)

Elo Mutual Pension Insurance Co raised its position in Molson Coors Beverage (NYSE:TAP) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,721 shares of the company’s stock after buying an additional 417 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Molson Coors Beverage were worth $901,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Corient Private Wealth LLC increased its position in shares of Molson Coors Beverage by 254.5% during the fourth quarter. Corient Private Wealth LLC now owns 42,240 shares of the company’s stock valued at $2,586,000 after acquiring an additional 30,323 shares during the last quarter. Vinva Investment Management Ltd raised its position in Molson Coors Beverage by 91.5% in the fourth quarter. Vinva Investment Management Ltd now owns 96,478 shares of the company’s stock worth $5,909,000 after acquiring an additional 46,101 shares during the period. Nordea Investment Management AB boosted its stake in Molson Coors Beverage by 153.7% in the first quarter. Nordea Investment Management AB now owns 25,830 shares of the company’s stock valued at $1,730,000 after acquiring an additional 15,648 shares during the last quarter. iA Global Asset Management Inc. grew its position in shares of Molson Coors Beverage by 117.5% during the 1st quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock valued at $2,124,000 after acquiring an additional 17,062 shares during the period. Finally, Wakefield Asset Management LLLP increased its stake in shares of Molson Coors Beverage by 124.5% during the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock worth $2,709,000 after purchasing an additional 29,552 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TAP. Barclays upped their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, August 7th. Citigroup dropped their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.53.

Molson Coors Beverage Trading Down 1.5 %

Molson Coors Beverage stock opened at $54.49 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The stock has a market cap of $11.54 billion, a P/E ratio of 10.90, a PEG ratio of 2.33 and a beta of 0.81. The firm’s fifty day moving average price is $53.77 and its 200-day moving average price is $56.95.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. Equities research analysts forecast that Molson Coors Beverage will post 5.75 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

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.