Meiji Yasuda Life Insurance Co Buys Shares of 6,594 Molson Coors Beverage (NYSE:TAP)

Meiji Yasuda Life Insurance Co bought a new stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 6,594 shares of the company's stock, valued at approximately $378,000.

A number of other large investors also recently made changes to their positions in the stock. Truvestments Capital LLC lifted its stake in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock valued at $34,000 after buying an additional 202 shares during the period. Quarry LP increased its holdings in Molson Coors Beverage by 55.1% during the fourth 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 holdings in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after purchasing an additional 428 shares during the period. SRS Capital Advisors Inc. raised its stake in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after acquiring an additional 203 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock worth $46,000 after buying an additional 276 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 3.7 %

Shares of NYSE TAP traded down $2.13 during midday trading on Thursday, hitting $54.71. 4,566,244 shares of the stock traded hands, compared to its average volume of 2,283,052. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66. The company has a market cap of $11.08 billion, a PE ratio of 10.23, a P/E/G ratio of 1.52 and a beta of 0.73. The business has a 50 day moving average price of $59.36 and a two-hundred day moving average price of $58.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company's revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. On average, equities analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.44%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's payout ratio is presently 35.14%.

Analyst Ratings Changes

TAP has been the topic of a number of research reports. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Barclays dropped their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Morgan Stanley increased their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research note on Tuesday, April 29th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $64.14.

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.