Meiji Yasuda Life Insurance Co Purchases New Stake in Molson Coors Beverage (NYSE:TAP)

Meiji Yasuda Life Insurance Co acquired a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,594 shares of the company's stock, valued at approximately $378,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TAP. DoubleLine ETF Adviser LP raised its holdings in Molson Coors Beverage by 1.7% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock valued at $590,000 after acquiring an additional 170 shares during the period. Pallas Capital Advisors LLC increased its stake in shares of Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock worth $975,000 after purchasing an additional 199 shares during the period. Venturi Wealth Management LLC lifted its holdings in Molson Coors Beverage by 7.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock worth $168,000 after purchasing an additional 202 shares during the last quarter. Truvestments Capital LLC lifted its holdings 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 purchasing an additional 202 shares during the last quarter. Finally, SRS Capital Advisors Inc. boosted 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 purchasing an additional 203 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $57.55 on Friday. The company's 50 day moving average price is $59.63 and its two-hundred day moving average price is $58.40. The firm has a market capitalization of $11.66 billion, a P/E ratio of 10.76, a P/E/G ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66. 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 (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. On average, equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.47 per share. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's payout ratio is 35.14%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays reduced their target price 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. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research report on Tuesday. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Finally, Berenberg Bank started 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. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $64.14.

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.

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage (NYSE:TAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.