Daiwa Securities Group Inc. Has $625,000 Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Daiwa Securities Group Inc. grew its holdings in Molson Coors Beverage (NYSE:TAP – Get Rating) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,701 shares of the company’s stock after purchasing an additional 795 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Molson Coors Beverage were worth $625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in shares of Molson Coors Beverage by 15.9% in the 1st quarter. Fifth Third Bancorp now owns 7,596 shares of the company’s stock valued at $405,000 after purchasing an additional 1,044 shares during the period. CWM LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at about $50,000. Commonwealth Equity Services LLC lifted its stake in shares of Molson Coors Beverage by 5.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 103,250 shares of the company’s stock valued at $4,785,000 after purchasing an additional 5,577 shares during the period. PDT Partners LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at about $941,000. Finally, Schroder Investment Management Group lifted its stake in shares of Molson Coors Beverage by 1.8% in the 4th quarter. Schroder Investment Management Group now owns 2,307,306 shares of the company’s stock valued at $106,943,000 after purchasing an additional 40,075 shares during the period. 79.62% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

TAP stock opened at $57.91 on Monday. The firm has a market cap of $12.56 billion, a PE ratio of 11.72, a P/E/G ratio of 3.03 and a beta of 0.80. The company has a quick ratio of 0.54, a current ratio of 0.81 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $54.56 and a 200-day moving average of $52.68. Molson Coors Beverage has a 12-month low of $42.46 and a 12-month high of $59.38.

Molson Coors Beverage (NYSE:TAP – Get Rating) last released its earnings results on Tuesday, May 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.11. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.14 billion. Molson Coors Beverage had a return on equity of 7.12% and a net margin of 8.36%. Molson Coors Beverage’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. As a group, sell-side analysts expect that Molson Coors Beverage will post 4.02 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, September 1st. Molson Coors Beverage’s dividend payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TAP. Redburn Partners raised Molson Coors Beverage from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 13th. StockNews.com began coverage on Molson Coors Beverage in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Sanford C. Bernstein lowered Molson Coors Beverage from an “outperform” rating to a “market perform” rating and set a $59.00 target price for the company. in a research report on Tuesday, May 17th. UBS Group lowered Molson Coors Beverage from a “buy” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $54.00 in a research report on Tuesday, June 21st. Finally, The Goldman Sachs Group raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $54.00 in a research report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $52.22.

Molson Coors Beverage Company Profile

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Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.