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

DnB Asset Management AS increased its holdings in Molson Coors Beverage (NYSE:TAP) by 15.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 43,910 shares of the company’s stock after purchasing an additional 5,792 shares during the period. DnB Asset Management AS’s holdings in Molson Coors Beverage were worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.

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

Molson Coors Beverage Stock Up 0.7 %

Shares of NYSE TAP opened at $61.28 on Wednesday. The stock has a market capitalization of $12.42 billion, a P/E ratio of 11.45, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The firm’s 50 day simple moving average is $58.33 and its two-hundred day simple moving average 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.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results 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 net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

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

Wall Street Analyst Weigh In

TAP has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Barclays decreased their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.60.

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.