Molson Coors Beverage (NYSE:TAP) Shares Sold by Asset Management One Co. Ltd.

Posted by on May 2nd, 2023

Asset Management One Co. Ltd. trimmed its position in Molson Coors Beverage (NYSE:TAP – Get Rating) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,369 shares of the company’s stock after selling 7,302 shares during the period. Asset Management One Co. Ltd.’s holdings in Molson Coors Beverage were worth $3,631,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Trustcore Financial Services LLC purchased a new position in Molson Coors Beverage in the 3rd quarter worth approximately $29,000. Beacon Capital Management LLC raised its position in shares of Molson Coors Beverage by 1,781.3% during the 4th quarter. Beacon Capital Management LLC now owns 602 shares of the company’s stock valued at $31,000 after buying an additional 570 shares during the period. Red Tortoise LLC purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at approximately $38,000. Lazard Asset Management LLC raised its position in shares of Molson Coors Beverage by 96.4% during the 1st quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock valued at $40,000 after buying an additional 373 shares during the period. Finally, Kistler Tiffany Companies LLC purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at approximately $42,000. 76.24% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $60.45 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of -73.72, a PEG ratio of 3.73 and a beta of 0.83. The firm’s fifty day simple moving average is $53.82 and its 200 day simple moving average is $52.44. Molson Coors Beverage has a twelve month low of $46.69 and a twelve month high of $60.73.

Molson Coors Beverage (NYSE:TAP – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.24. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.65 billion. Molson Coors Beverage had a negative net margin of 1.37% and a positive return on equity of 6.65%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. As a group, equities research analysts expect that Molson Coors Beverage will post 4.08 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Friday, March 3rd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.71%. 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. Molson Coors Beverage’s dividend payout ratio is currently -200.00%.

Analysts Set New Price Targets

TAP has been the topic of several analyst reports. TheStreet lowered shares of Molson Coors Beverage from a “b” rating to a “c+” rating in a research report on Tuesday, February 21st. Cowen raised shares of Molson Coors Beverage from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $60.00 in a research report on Friday, January 6th. Wells Fargo & Company lifted their price target on shares of Molson Coors Beverage from $45.00 to $48.00 and gave the company an “underweight” rating in a research report on Wednesday, February 22nd. JPMorgan Chase & Co. boosted their target price on Molson Coors Beverage from $51.00 to $59.00 and gave the company an “underweight” rating in a research report on Friday, April 21st. Finally, Credit Suisse Group boosted their target price on Molson Coors Beverage from $46.00 to $49.00 and gave the company an “underperform” rating in a research report on Wednesday, February 22nd. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $53.77.

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.

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

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