AIA Group Ltd Buys 6,347 Shares of Molson Coors Beverage (NYSE:TAP)

AIA Group Ltd lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,320 shares of the company's stock after acquiring an additional 6,347 shares during the quarter. AIA Group Ltd's holdings in Molson Coors Beverage were worth $1,795,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Molson Coors Beverage in the 4th quarter worth $142,407,000. State Street Corp increased its position in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after buying an additional 681,757 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $27,660,000. Bank of New York Mellon Corp raised its stake in Molson Coors Beverage by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock worth $202,661,000 after buying an additional 434,250 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its holdings in Molson Coors Beverage by 131.1% in the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company's stock worth $29,875,000 after buying an additional 294,596 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.

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Molson Coors Beverage Stock Up 0.8 %

Shares of TAP traded up $0.53 on Thursday, hitting $62.48. 4,413,036 shares of the stock traded hands, compared to its average volume of 2,039,239. The company has a market capitalization of $12.66 billion, a PE ratio of 11.68, a P/E/G ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The business has a 50 day simple moving average of $58.47 and a 200 day simple moving average of $57.84.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, 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 firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.01%. Molson Coors Beverage's payout ratio is 35.14%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TAP. Bank of America upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and upped their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Barclays lowered their price objective on 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Finally, UBS Group lifted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Molson Coors Beverage presently has an average rating of "Hold" and an average price target of $65.06.

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.