Molson Coors Beverage (NYSE:TAP) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its position in Molson Coors Beverage (NYSE:TAP) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,044 shares of the company’s stock after purchasing an additional 277 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Molson Coors Beverage were worth $3,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new stake in shares of Molson Coors Beverage in the 4th quarter valued at approximately $3,086,000. Norges Bank acquired a new position in Molson Coors Beverage in the fourth quarter worth $142,407,000. Caisse Des Depots ET Consignations bought a new stake in Molson Coors Beverage during the fourth quarter valued at $980,000. NEOS Investment Management LLC raised its holdings in shares of Molson Coors Beverage by 25.6% during the fourth quarter. NEOS Investment Management LLC now owns 6,075 shares of the company’s stock worth $348,000 after purchasing an additional 1,238 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in shares of Molson Coors Beverage by 1.7% in the 4th quarter. UniSuper Management Pty Ltd now owns 31,202 shares of the company’s stock worth $1,788,000 after buying an additional 526 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

TAP has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Morgan Stanley increased their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.60.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $61.28 on Wednesday. The stock’s 50 day moving average price is $58.33 and its 200 day moving average price is $57.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Equities research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.07%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

Molson Coors Beverage Company 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.