Elo Mutual Pension Insurance Co Purchases 4,612 Shares of Molson Coors Beverage (NYSE:TAP)

Elo Mutual Pension Insurance Co boosted its position in shares of Molson Coors Beverage (NYSE:TAP) by 28.1% in the fourth quarter, Holdings Channel reports. The fund owned 21,027 shares of the company’s stock after purchasing an additional 4,612 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Molson Coors Beverage were worth $1,205,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TAP. Truvestments Capital LLC increased its position in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Catalyst Capital Advisors LLC increased its holdings in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the last quarter. SRS Capital Advisors Inc. raised its position in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares during the period. Private Trust Co. NA raised its position in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock worth $46,000 after acquiring an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after acquiring an additional 489 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.7 %

Shares of Molson Coors Beverage stock opened at $60.52 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The business has a 50-day moving average price of $58.11 and a 200-day moving average price of $57.72.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Equities research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.11%. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analyst Ratings Changes

TAP has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Morgan Stanley raised their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their target price for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Barclays dropped their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average target price of $63.60.

Molson Coors Beverage Company 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.