Molson Coors Beverage (NYSE:TAP) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,883 shares of the company's stock after acquiring an additional 34,268 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.14% of Molson Coors Beverage worth $15,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake 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 purchasing an additional 681,757 shares during the period. Raymond James Financial Inc. purchased a new stake in Molson Coors Beverage during the 4th quarter worth $27,660,000. Bank of New York Mellon Corp boosted its position in Molson Coors Beverage by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock valued at $202,661,000 after buying an additional 434,250 shares during the last quarter. Invenomic Capital Management LP grew its stake in shares of Molson Coors Beverage by 131.1% during the third quarter. Invenomic Capital Management LP now owns 519,377 shares of the company's stock valued at $29,875,000 after acquiring an additional 294,596 shares in the last quarter. Finally, LBP AM SA increased its position in shares of Molson Coors Beverage by 1,553.3% during the fourth quarter. LBP AM SA now owns 206,664 shares of the company's stock worth $11,846,000 after acquiring an additional 194,164 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

TAP has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock 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 increased their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Berenberg Bank started coverage on shares of Molson Coors Beverage in a research report on Wednesday. They set a "buy" rating and a $86.90 price target on the stock. Finally, StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and a consensus price target of $65.06.

Molson Coors Beverage Stock Performance

NYSE TAP traded up $0.53 on Thursday, hitting $62.48. The stock had a trading volume of 4,413,026 shares, compared to its average volume of 2,039,238. The company's 50-day moving average is $58.47 and its two-hundred day moving average is $57.84. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.52 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

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, 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 firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. On average, analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio is currently 35.14%.

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.