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

Nomura Asset Management Co. Ltd. lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 59,044 shares of the company’s stock after acquiring an additional 277 shares during the quarter. 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 have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Molson Coors Beverage during the fourth quarter valued at $142,407,000. State Street Corp boosted its holdings in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after buying an additional 681,757 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Molson Coors Beverage in the fourth quarter worth approximately $27,660,000. Bank of New York Mellon Corp raised its holdings in shares of Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after acquiring an additional 434,250 shares during the period. Finally, Invenomic Capital Management LP lifted its position in shares of Molson Coors Beverage by 131.1% in the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after acquiring an additional 294,596 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TAP has been the topic of several recent analyst reports. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. UBS Group upped their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Morgan Stanley increased their price target on shares of 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, JPMorgan Chase & Co. lowered their price objective on shares of 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. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.60.

Molson Coors Beverage Price Performance

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 P/E/G ratio of 1.52 and a beta of 0.81. The business has a 50-day moving average of $58.33 and a two-hundred day moving average of $57.81. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. 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 posted its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. On average, equities research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change 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%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

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.