Elo Mutual Pension Insurance Co Boosts Stake in Molson Coors Beverage (NYSE:TAP)

Elo Mutual Pension Insurance Co raised its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 28.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,027 shares of the company's stock after buying an additional 4,612 shares during the quarter. Elo Mutual Pension Insurance Co's holdings in Molson Coors Beverage were worth $1,205,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Molson Coors Beverage by 13.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 284,883 shares of the company's stock worth $15,745,000 after acquiring an additional 34,268 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Molson Coors Beverage by 44.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,423 shares of the company's stock valued at $655,000 after buying an additional 3,520 shares during the period. LPL Financial LLC raised its position in Molson Coors Beverage by 22.4% in the fourth quarter. LPL Financial LLC now owns 717,592 shares of the company's stock valued at $41,132,000 after purchasing an additional 131,276 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Molson Coors Beverage during the 4th quarter worth approximately $818,000. Finally, American Century Companies Inc. boosted its position in shares of Molson Coors Beverage by 70.1% during the fourth quarter. American Century Companies Inc. now owns 150,828 shares of the company's stock worth $8,645,000 after buying an additional 62,159 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

TAP has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. JPMorgan Chase & Co. cut their price target on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 30th. Bank of America raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $65.06.

Molson Coors Beverage Stock Performance

TAP traded down $0.20 during trading on Friday, reaching $62.26. The company's stock had a trading volume of 520,739 shares, compared to its average volume of 2,036,103. The company has a market capitalization of $12.61 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company's fifty day moving average price is $58.64 and its 200-day moving average price is $57.87. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week 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.

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 (EPS) for the quarter, topping 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 firm had revenue of $2.74 billion during the quarter, compared to analysts' expectations 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 paid a dividend of $0.47 per share. 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 annualized dividend and a dividend yield of 3.02%. Molson Coors Beverage's payout ratio is 35.14%.

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.