Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Molson Coors Beverage (NYSE:TAP) by 113.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,298 shares of the company’s stock after purchasing an additional 34,637 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Molson Coors Beverage were worth $3,997,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TAP. Pacer Advisors Inc. raised its position in Molson Coors Beverage by 9,466.3% during the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after purchasing an additional 2,121,211 shares during the period. Norges Bank purchased a new stake in Molson Coors Beverage during the 4th quarter valued at $83,092,000. AQR Capital Management LLC raised its holdings in Molson Coors Beverage by 76.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after buying an additional 1,500,269 shares during the period. Vanguard Group Inc. lifted its position in Molson Coors Beverage by 6.1% in the first quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock worth $1,138,589,000 after buying an additional 1,235,013 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Molson Coors Beverage by 40.2% during the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after buying an additional 988,864 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the topic of several recent analyst reports. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Barclays increased their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Finally, Citigroup boosted their price objective on Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.27.

Molson Coors Beverage Stock Performance

TAP stock opened at $63.26 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The business has a 50-day moving average price of $64.75 and a 200 day moving average price of $62.20. The company has a market capitalization of $13.65 billion, a P/E ratio of 14.51, a PEG ratio of 2.31 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the business posted $1.30 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that Molson Coors Beverage will post 5.66 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 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.78%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is currently 40.37%.

Insider Buying and Selling at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.71% of the company’s stock.

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.