Molson Coors Beverage Company $TAP Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lowered its position in Molson Coors Beverage Company (NYSE:TAP) by 86.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,216 shares of the company’s stock after selling 53,800 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Molson Coors Beverage were worth $384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TAP. Dodge & Cox increased its stake in shares of Molson Coors Beverage by 29.4% in the third quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock valued at $843,063,000 after purchasing an additional 4,235,029 shares during the period. Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at approximately $125,755,000. State Street Corp increased its stake in shares of Molson Coors Beverage by 19.2% in the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after purchasing an additional 1,693,682 shares during the period. Royal London Asset Management Ltd. increased its stake in shares of Molson Coors Beverage by 317.9% in the second quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock valued at $98,297,000 after purchasing an additional 1,554,851 shares during the period. Finally, M&T Bank Corp increased its stake in shares of Molson Coors Beverage by 16,111.2% in the fourth quarter. M&T Bank Corp now owns 1,499,699 shares of the company’s stock valued at $70,006,000 after purchasing an additional 1,490,448 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 1.8%

Shares of NYSE:TAP opened at $39.10 on Friday. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of -3.68 and a beta of 0.41. Molson Coors Beverage Company has a 1-year low of $38.04 and a 1-year high of $54.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The company has a 50 day moving average price of $42.41 and a 200 day moving average price of $45.67.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. On average, research analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -18.05%.

Analyst Upgrades and Downgrades

Several brokerages have commented on TAP. Piper Sandler dropped their price target on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, February 19th. Evercore decreased their price objective on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. UBS Group decreased their price objective on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $42.00 price objective on shares of Molson Coors Beverage in a report on Friday, May 1st. Finally, Wall Street Zen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $45.00.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the sale, the director directly owned 9,871 shares in the company, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew Thomas Molson bought 2,000 shares of Molson Coors Beverage stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $46.67 per share, with a total value of $93,340.00. Following the completion of the acquisition, the director directly owned 24,654 shares of the company’s stock, valued at $1,150,602.18. This represents a 8.83% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 2.27% of the company’s stock.

Molson Coors Beverage Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.