Daiwa Securities Group Inc. Boosts Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Daiwa Securities Group Inc. grew its position in shares of Molson Coors Beverage (NYSE:TAP) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,529 shares of the company’s stock after buying an additional 2,971 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Molson Coors Beverage were worth $1,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. IMPACTfolio LLC grew its holdings 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 buying an additional 176 shares during the last quarter. Syntax Advisors LLC grew its position in Molson Coors Beverage by 5.0% in the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after purchasing an additional 185 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Molson Coors Beverage by 1.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,259 shares of the company’s stock valued at $970,000 after buying an additional 196 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage by 4.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 4,981 shares of the company’s stock valued at $317,000 after buying an additional 213 shares during the period. Finally, Seed Wealth Management Inc. boosted its stake in shares of Molson Coors Beverage by 7.6% in the 4th quarter. Seed Wealth Management Inc. now owns 3,531 shares of the company’s stock worth $219,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the transaction, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of recent research reports. Piper Sandler started coverage on Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. Citigroup raised their price objective on shares of Molson Coors Beverage from $63.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Barclays upped their target price on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.73.

Molson Coors Beverage Trading Down 0.6 %

Shares of TAP opened at $64.13 on Wednesday. The firm has a market cap of $13.63 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 2.22 and a beta of 0.84. 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 company has a 50 day simple moving average of $65.02 and a two-hundred day simple moving average of $62.27.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. Molson Coors Beverage’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the company posted $1.30 earnings per share. On average, equities analysts expect that Molson Coors Beverage will post 5.67 earnings per share 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. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 2.74%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 40.37%.

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.