Mitsubishi UFJ Asset Management Co. Ltd. Acquires 15,620 Shares of Molson Coors Beverage (NYSE:TAP)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 9.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 188,698 shares of the company's stock after acquiring an additional 15,620 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of Molson Coors Beverage worth $11,707,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TAP. Tennessee Valley Asset Management Partners bought a new position in shares of Molson Coors Beverage in the fourth quarter worth $29,000. Stone House Investment Management LLC bought a new position in Molson Coors Beverage in the 3rd quarter worth about $32,000. Montag A & Associates Inc. purchased a new position in Molson Coors Beverage during the 4th quarter valued at about $31,000. Allworth Financial LP increased its position in shares of Molson Coors Beverage by 179.4% during the fourth quarter. Allworth Financial LP now owns 623 shares of the company's stock valued at $38,000 after buying an additional 400 shares during the period. Finally, Partnership Wealth Management LLC bought a new stake in shares of Molson Coors Beverage during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TAP. Citigroup reduced their price objective on shares of Molson Coors Beverage from $56.00 to $53.00 and set a "sell" rating for the company in a research note on Wednesday, May 1st. Bank of America decreased their price target on shares of Molson Coors Beverage from $72.00 to $62.00 and set a "neutral" rating on the stock in a report on Wednesday, May 1st. Barclays lowered their price objective on Molson Coors Beverage from $67.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 2nd. Evercore ISI reduced their target price on Molson Coors Beverage from $70.00 to $68.00 and set an "outperform" rating for the company in a research report on Wednesday, May 1st. Finally, Piper Sandler began coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a "neutral" rating and a $69.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $65.53.

Molson Coors Beverage Trading Down 1.7 %

Shares of NYSE:TAP traded down $0.98 on Friday, reaching $56.47. 1,484,790 shares of the company traded hands, compared to its average volume of 2,267,265. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The business's 50-day simple moving average is $63.76 and its 200 day simple moving average is $62.37. The stock has a market capitalization of $11.96 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $0.54 EPS. Molson Coors Beverage's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.69 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a yield of 3.12%. Molson Coors Beverage's dividend payout ratio is currently 35.20%.

About Molson Coors Beverage

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.