ASR Vermogensbeheer N.V. Takes $5.53 Million Position in Molson Coors Beverage Company (NYSE:TAP)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new position in Molson Coors Beverage Company, purchasing 90,855 shares valued at approximately $5.53 million.
• Recent changes in institutional ownership include Resona Asset Management and Dynamic Technology Lab, highlighting increased investor interest in the company.
• Molson Coors Beverage announced a quarterly dividend of $0.47 per share, reflecting an annualized yield of 3.8%.

ASR Vermogensbeheer N.V. acquired a new stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 90,855 shares of the company's stock, valued at approximately $5,531,000.

Other institutional investors also recently made changes to their positions in the company. Resona Asset Management Co. Ltd. acquired a new position in shares of Molson Coors Beverage during the 4th quarter valued at $3,096,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Molson Coors Beverage during the 4th quarter valued at $267,000. Russell Investments Group Ltd. lifted its holdings in shares of Molson Coors Beverage by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 331,704 shares of the company's stock valued at $19,013,000 after acquiring an additional 5,943 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Molson Coors Beverage by 6.1% during the 4th quarter. Cerity Partners LLC now owns 97,602 shares of the company's stock valued at $5,599,000 after acquiring an additional 5,602 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Molson Coors Beverage by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock valued at $217,200,000 after acquiring an additional 152,622 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. Barclays reduced their target price on shares of Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a report on Thursday. Needham & Company LLC reduced their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Evercore ISI cut their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a report on Wednesday. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of "Hold" and an average price target of $58.12.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the sale, the director owned 27,595 shares in the company, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.71% of the company's stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $49.38 on Friday. The firm has a market cap of $9.98 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 3.10 and a beta of 0.67. The firm's 50-day simple moving average is $49.97 and its 200-day simple moving average is $55.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.59 and a current ratio of 0.95. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 EPS. Equities analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is 37.83%.

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.

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