Tokio Marine Asset Management Co. Ltd. Takes Position in Molson Coors Beverage (NYSE:TAP)

Posted by on Apr 10th, 2023

Tokio Marine Asset Management Co. Ltd. acquired a new position in Molson Coors Beverage (NYSE:TAP – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,270 shares of the company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in Molson Coors Beverage by 396.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 214,360 shares of the company’s stock valued at $10,286,000 after buying an additional 171,181 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Molson Coors Beverage by 1,081.7% during the third quarter. Lazard Asset Management LLC now owns 4,573 shares of the company’s stock worth $218,000 after acquiring an additional 4,186 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Molson Coors Beverage during the 3rd quarter valued at approximately $884,000. Knightsbridge Asset Management LLC purchased a new position in shares of Molson Coors Beverage in the third quarter worth $7,781,000. Finally, First American Trust FSB lifted its stake in shares of Molson Coors Beverage by 4.3% during the fourth quarter. First American Trust FSB now owns 63,522 shares of the company’s stock worth $3,272,000 after buying an additional 2,595 shares during the period. Hedge funds and other institutional investors own 76.24% of the company’s stock.

Molson Coors Beverage Price Performance

TAP stock opened at $52.15 on Monday. Molson Coors Beverage has a 1 year low of $46.69 and a 1 year high of $60.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.55. The firm has a market capitalization of $11.28 billion, a PE ratio of -63.60, a price-to-earnings-growth ratio of 3.28 and a beta of 0.83. The business has a 50 day simple moving average of $52.21 and a 200-day simple moving average of $51.42.

Molson Coors Beverage (NYSE:TAP – Get Rating) last issued its earnings results on Tuesday, February 21st. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.24. Molson Coors Beverage had a positive return on equity of 6.65% and a negative net margin of 1.37%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the business earned $0.81 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. Equities research analysts anticipate that Molson Coors Beverage will post 4.09 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, March 3rd were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.38. This represents a $1.64 dividend on an annualized basis and a yield of 3.14%. Molson Coors Beverage’s payout ratio is -200.00%.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of research reports. UBS Group decreased their target price on Molson Coors Beverage from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday. Cowen upgraded Molson Coors Beverage from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $60.00 in a research report on Friday, January 6th. StockNews.com started coverage on shares of Molson Coors Beverage in a report on Thursday, March 16th. They issued a “hold” rating for the company. TheStreet downgraded shares of Molson Coors Beverage from a “b” rating to a “c+” rating in a report on Tuesday, February 21st. Finally, Wells Fargo & Company boosted their target price on shares of Molson Coors Beverage from $45.00 to $48.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 22nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.45.

About Molson Coors Beverage

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Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: Americas, and EMEA and APAC. The Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The EMEA and APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the UK, various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.

Further Reading

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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