Molson Coors Beverage (NYSE:TAP) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in shares of Molson Coors Beverage (NYSE:TAP) by 17.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 19,529 shares of the company’s stock after purchasing an additional 2,971 shares during the period. Daiwa Securities Group Inc.’s holdings in Molson Coors Beverage were worth $1,195,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. IMPACTfolio LLC increased its position in shares of Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock valued at $246,000 after acquiring an additional 176 shares during the last quarter. Syntax Advisors LLC increased its position in shares of Molson Coors Beverage by 5.0% during the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after acquiring an additional 185 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Molson Coors Beverage by 1.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock valued at $970,000 after acquiring an additional 196 shares during the last quarter. Kingsview Wealth Management LLC increased its position in shares of Molson Coors Beverage by 4.5% during the third quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock valued at $317,000 after acquiring an additional 213 shares during the last quarter. Finally, Seed Wealth Management Inc. increased its position in shares of Molson Coors Beverage by 7.6% during the fourth quarter. Seed Wealth Management Inc. now owns 3,531 shares of the company’s stock valued at $219,000 after acquiring an additional 250 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $64.13 on Wednesday. The stock’s 50-day moving average is $65.02 and its two-hundred day moving average is $62.27. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 2.22 and a beta of 0.84. Molson Coors Beverage has a 1 year low of $55.67 and a 1 year high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company posted $1.30 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts predict that Molson Coors Beverage will post 5.67 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.74%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 40.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Piper Sandler started coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. Citigroup upped their price objective on Molson Coors Beverage from $63.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Wednesday, April 17th. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Finally, StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. One equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.73.

Insider Buying and Selling

In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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.