DnB Asset Management AS Acquires 5,792 Shares of Molson Coors Beverage (NYSE:TAP)

DnB Asset Management AS increased its stake in Molson Coors Beverage (NYSE:TAP) by 15.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,910 shares of the company’s stock after acquiring an additional 5,792 shares during the quarter. DnB Asset Management AS’s holdings in Molson Coors Beverage were worth $2,517,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Truvestments Capital LLC increased its stake in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the period. SRS Capital Advisors Inc. increased its position in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares in the last quarter. Private Trust Co. NA raised its stake in Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after buying an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after acquiring an additional 489 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $61.28 on Wednesday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company’s 50-day moving average is $58.33 and its 200 day moving average is $57.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company has a market capitalization of $12.42 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, equities research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. This is an increase 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 3.07%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Wall Street Analyst Weigh In

TAP has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Bank of America upgraded shares of 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 report on Friday, December 6th. Morgan Stanley upped their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Barclays cut their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average price target of $63.60.

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.