Aster Capital Management DIFC Ltd Boosts Holdings in Molson Coors Beverage (NYSE:TAP)

Aster Capital Management DIFC Ltd boosted its stake in Molson Coors Beverage (NYSE:TAP) by 39.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,916 shares of the company’s stock after buying an additional 2,257 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Molson Coors Beverage were worth $454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC increased 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 purchasing an additional 202 shares in the last quarter. Catalyst Capital Advisors LLC increased its position in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $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% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after buying an additional 203 shares during the period. Private Trust Co. NA lifted its stake in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after buying an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after acquiring an additional 489 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

TAP has been the topic of a number of recent research reports. UBS Group lifted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Barclays dropped their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Berenberg Bank assumed coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a “buy” rating and a $86.90 price objective for the company. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.06.

Molson Coors Beverage Trading Down 2.0 %

NYSE:TAP opened at $61.19 on Monday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. 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 stock has a fifty day moving average price of $58.76 and a two-hundred day moving average price of $57.94. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend 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 (DPR) is presently 35.14%.

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.