Mitsubishi UFJ Trust & Banking Corp Decreases Holdings in Molson Coors Beverage (NYSE:TAP)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 207,164 shares of the company's stock after selling 17,195 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of Molson Coors Beverage worth $11,875,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Pallas Capital Advisors LLC increased its holdings in 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 buying an additional 199 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Molson Coors Beverage by 7.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock valued at $168,000 after acquiring an additional 202 shares during the period. Truvestments Capital LLC increased its stake in shares of 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. SRS Capital Advisors Inc. raised its holdings in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after purchasing an additional 203 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in Molson Coors Beverage by 21.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock valued at $71,000 after purchasing an additional 218 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

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Wall Street Analysts Forecast Growth

TAP has been the topic of several research reports. Berenberg Bank assumed coverage on Molson Coors Beverage in a research note on Wednesday. They issued a "buy" rating and a $86.90 target price on the stock. Barclays lowered their price objective on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research note 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 restated a "buy" rating and set a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Finally, StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $65.06.

Molson Coors Beverage Trading Up 1.0 %

TAP stock traded up $0.60 on Thursday, reaching $62.55. The company's stock had a trading volume of 1,071,876 shares, compared to its average volume of 2,026,674. 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 fifty day simple moving average of $58.47 and a two-hundred day simple moving average of $57.84. The firm has a market cap of $12.67 billion, a PE ratio of 11.69, a PEG ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend 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 presently 35.14%.

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.