Mitsubishi UFJ Trust & Banking Corp Sells 17,195 Shares of Molson Coors Beverage (NYSE:TAP)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Molson Coors Beverage (NYSE:TAP) by 7.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 207,164 shares of the company’s stock after selling 17,195 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Molson Coors Beverage were worth $11,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Molson Coors Beverage by 44.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,423 shares of the company’s stock valued at $655,000 after purchasing an additional 3,520 shares during the last quarter. LPL Financial LLC grew its stake in shares of Molson Coors Beverage by 22.4% during the fourth quarter. LPL Financial LLC now owns 717,592 shares of the company’s stock valued at $41,132,000 after buying an additional 131,276 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $818,000. American Century Companies Inc. increased its holdings in shares of Molson Coors Beverage by 70.1% in the fourth quarter. American Century Companies Inc. now owns 150,828 shares of the company’s stock worth $8,645,000 after buying an additional 62,159 shares during the period. Finally, Loudon Investment Management LLC lifted its stake in shares of Molson Coors Beverage by 51.9% in the 4th quarter. Loudon Investment Management LLC now owns 11,700 shares of the company’s stock valued at $671,000 after acquiring an additional 4,000 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TAP shares. JPMorgan Chase & Co. reduced their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. 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. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.60.

Molson Coors Beverage Stock Down 0.7 %

Shares of NYSE:TAP opened at $60.52 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm has a market capitalization of $12.26 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.81. The stock has a 50 day moving average price of $58.11 and a 200-day moving average price of $57.69.

Molson Coors Beverage (NYSE:TAP) last posted 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. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.11%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is presently 35.14%.

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.