Daiwa Securities Group Inc. Purchases 1,277 Shares of Molson Coors Beverage (NYSE:TAP)

Daiwa Securities Group Inc. lifted its position in Molson Coors Beverage (NYSE:TAP) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,149 shares of the company’s stock after purchasing an additional 1,277 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Molson Coors Beverage were worth $1,441,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TAP. Thompson Siegel & Walmsley LLC bought a new position in Molson Coors Beverage in the third quarter valued at $48,202,000. State Street Corp increased its stake in Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Raymond James Financial Inc. bought a new position in Molson Coors Beverage in the fourth quarter valued at $27,660,000. Bank of New York Mellon Corp increased its stake in Molson Coors Beverage by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after acquiring an additional 434,250 shares during the last quarter. Finally, Invenomic Capital Management LP grew its stake in shares of Molson Coors Beverage by 131.1% during the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after buying an additional 294,596 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. BNP Paribas assumed coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective on the stock. UBS Group raised their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $59.68 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a 50-day simple moving average of $57.17 and a two-hundred day simple moving average of $57.38. The firm has a market capitalization of $12.09 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

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

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.15%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

About Molson Coors Beverage

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.