Nordea Investment Management AB Acquires 1,885 Shares of Molson Coors Beverage (NYSE:TAP)

Posted by on May 15th, 2023

Nordea Investment Management AB grew its holdings in Molson Coors Beverage (NYSE:TAP – Get Rating) by 22.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,182 shares of the company’s stock after purchasing an additional 1,885 shares during the period. Nordea Investment Management AB’s holdings in Molson Coors Beverage were worth $524,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TAP. Trustcore Financial Services LLC purchased a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $29,000. Beacon Capital Management LLC lifted its stake in Molson Coors Beverage by 1,781.3% in the 4th quarter. Beacon Capital Management LLC now owns 602 shares of the company’s stock worth $31,000 after purchasing an additional 570 shares in the last quarter. Red Tortoise LLC purchased a new stake in Molson Coors Beverage in the 4th quarter worth approximately $38,000. Lazard Asset Management LLC lifted its stake in Molson Coors Beverage by 96.4% in the 1st quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock worth $40,000 after purchasing an additional 373 shares in the last quarter. Finally, Kistler Tiffany Companies LLC purchased a new stake in Molson Coors Beverage in the 4th quarter worth approximately $42,000. Institutional investors own 76.24% of the company’s stock.

Molson Coors Beverage Stock Up 0.4 %

Shares of Molson Coors Beverage stock opened at $64.25 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.49 and a current ratio of 0.77. The stock has a market capitalization of $13.90 billion, a PE ratio of -53.99, a price-to-earnings-growth ratio of 3.65 and a beta of 0.83. Molson Coors Beverage has a 52-week low of $46.69 and a 52-week high of $66.67. The company has a 50-day simple moving average of $55.84 and a two-hundred day simple moving average of $53.42.

Molson Coors Beverage (NYSE:TAP – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. Molson Coors Beverage had a negative net margin of 1.97% and a positive return on equity of 7.16%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the previous year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, analysts anticipate that Molson Coors Beverage will post 4.22 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.55%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 2nd. Molson Coors Beverage’s payout ratio is -137.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TAP shares. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday. Barclays increased their price target on shares of Molson Coors Beverage from $52.00 to $62.00 in a report on Thursday, May 4th. Roth Capital reissued a “buy” rating on shares of Molson Coors Beverage in a report on Tuesday, February 21st. TheStreet raised shares of Molson Coors Beverage from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. Finally, Jefferies Financial Group increased their target price on shares of Molson Coors Beverage from $68.00 to $74.00 in a report on Friday. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $57.87.

Molson Coors Beverage Company Profile

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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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