Nomura Holdings Inc. Takes Position in Molson Coors Beverage (NYSE:TAP)

Nomura Holdings Inc. bought a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,752 shares of the company's stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TAP. Truvestments Capital LLC grew its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after buying an additional 202 shares during the last quarter. CoreCap Advisors LLC grew its stake in Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock worth $37,000 after buying an additional 643 shares during the last quarter. Quarry LP grew its stake in Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after buying an additional 254 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock valued at $42,000 after purchasing an additional 428 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after purchasing an additional 203 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the transaction, the director now directly owns 27,595 shares in the company, valued at $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.71% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on TAP shares. Morgan Stanley dropped their price target on Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. UBS Group dropped their price target on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Needham & Company LLC dropped their price target on Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Berenberg Bank began coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price objective for the company. Finally, Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a "buy" rating in a report on Tuesday, May 20th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Molson Coors Beverage has an average rating of "Hold" and a consensus target price of $63.26.

Molson Coors Beverage Price Performance

TAP stock traded up $0.39 during mid-day trading on Tuesday, reaching $54.40. 1,317,832 shares of the company's stock were exchanged, compared to its average volume of 2,138,109. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73. The stock's 50 day moving average is $58.15 and its 200 day moving average is $58.39. 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 12-month low of $49.19 and a 12-month high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.30). The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Molson Coors Beverage's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 EPS. On average, research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.46%. Molson Coors Beverage's dividend payout ratio is currently 37.83%.

Molson Coors Beverage 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.