Molson Coors Beverage (NYSE:TAP) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB increased its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 92.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 216,413 shares of the company's stock after purchasing an additional 103,883 shares during the period. Nordea Investment Management AB owned 0.11% of Molson Coors Beverage worth $12,383,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. TD Asset Management Inc boosted its position in Molson Coors Beverage by 8.0% during the 2nd quarter. TD Asset Management Inc now owns 53,346 shares of the company's stock valued at $2,712,000 after acquiring an additional 3,936 shares in the last quarter. Private Advisor Group LLC boosted its position in Molson Coors Beverage by 0.9% during the second quarter. Private Advisor Group LLC now owns 31,803 shares of the company's stock valued at $1,617,000 after purchasing an additional 295 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Molson Coors Beverage in the second quarter valued at about $163,000. Caprock Group LLC raised its holdings in Molson Coors Beverage by 12.4% in the second quarter. Caprock Group LLC now owns 8,036 shares of the company's stock worth $408,000 after purchasing an additional 885 shares in the last quarter. Finally, Quest Partners LLC lifted its position in shares of Molson Coors Beverage by 252,400.0% during the second quarter. Quest Partners LLC now owns 17,675 shares of the company's stock valued at $898,000 after buying an additional 17,668 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

NYSE TAP traded up $0.43 on Thursday, reaching $55.62. 1,505,318 shares of the company's stock traded hands, compared to its average volume of 1,777,164. The stock has a 50 day moving average price of $59.38 and a 200-day moving average price of $55.75. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 2.38 and a beta of 0.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company's revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. Equities research analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.16%. Molson Coors Beverage's payout ratio is 39.64%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TAP. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Hsbc Global Res downgraded Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research report on Friday, November 8th. TD Cowen decreased their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating for the company in a report on Tuesday, October 8th. Barclays boosted their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an "underweight" rating in a research note on Monday, November 11th. Finally, Needham & Company LLC started coverage on Molson Coors Beverage in a report on Friday, December 6th. They issued a "buy" rating and a $72.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $62.00.

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.