Sumitomo Mitsui DS Asset Management Company Ltd Purchases 3,956 Shares of Molson Coors Beverage (NYSE:TAP)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Molson Coors Beverage (NYSE:TAP) by 25.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 19,215 shares of the company’s stock after buying an additional 3,956 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Molson Coors Beverage were worth $1,176,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TAP. Pacer Advisors Inc. lifted its holdings in shares of Molson Coors Beverage by 9,466.3% in the 4th quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock worth $131,211,000 after purchasing an additional 2,121,211 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Molson Coors Beverage by 76.0% in the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock worth $218,168,000 after purchasing an additional 1,500,269 shares in the last quarter. Morgan Stanley lifted its stake in Molson Coors Beverage by 40.2% during the 3rd quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock valued at $219,194,000 after acquiring an additional 988,864 shares in the last quarter. Deutsche Bank AG lifted its stake in Molson Coors Beverage by 57.4% during the 3rd quarter. Deutsche Bank AG now owns 1,233,622 shares of the company’s stock valued at $78,446,000 after acquiring an additional 449,971 shares in the last quarter. Finally, River Road Asset Management LLC lifted its stake in Molson Coors Beverage by 94.8% during the 4th quarter. River Road Asset Management LLC now owns 843,373 shares of the company’s stock valued at $51,623,000 after acquiring an additional 410,467 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Down 1.4 %

TAP opened at $62.82 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The stock has a market cap of $13.36 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 2.22 and a beta of 0.84. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The company’s 50-day moving average price is $65.13 and its two-hundred day moving average price is $62.31.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a dividend yield of 2.80%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s payout ratio is 40.37%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TAP shares. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised 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. Piper Sandler started coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They set a “neutral” rating and a $69.00 price objective on the stock. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Finally, TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $68.07.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, 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 legal filing with the SEC, which is accessible through 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.