Norges Bank Buys Shares of 2,484,428 Molson Coors Beverage (NYSE:TAP)

Norges Bank purchased a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,484,428 shares of the company's stock, valued at approximately $142,407,000. Norges Bank owned approximately 1.21% of Molson Coors Beverage as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caisse Des Depots ET Consignations bought a new position in Molson Coors Beverage during the 4th quarter valued at $980,000. NEOS Investment Management LLC lifted its position in shares of Molson Coors Beverage by 25.6% during the fourth quarter. NEOS Investment Management LLC now owns 6,075 shares of the company's stock valued at $348,000 after purchasing an additional 1,238 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in Molson Coors Beverage by 1.7% during the fourth quarter. UniSuper Management Pty Ltd now owns 31,202 shares of the company's stock worth $1,788,000 after purchasing an additional 526 shares during the last quarter. Elo Mutual Pension Insurance Co grew its position in Molson Coors Beverage by 28.1% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 21,027 shares of the company's stock worth $1,205,000 after purchasing an additional 4,612 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Molson Coors Beverage by 13.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 284,883 shares of the company's stock worth $15,745,000 after purchasing an additional 34,268 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TAP. UBS Group upped their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a report on Friday, February 14th. JPMorgan Chase & Co. cut their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a 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 target price for the company. Bank of America upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price target for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $65.06.

Molson Coors Beverage Trading Down 2.0 %

Shares of TAP stock traded down $1.25 on Friday, hitting $61.21. 2,014,770 shares of the company's stock traded hands, compared to its average volume of 2,242,173. 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 stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 1.52 and a beta of 0.81. The company's fifty day simple moving average is $58.64 and its 200 day simple moving average is $57.87. 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 released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. The company 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%. Equities analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.07%. 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. Molson Coors Beverage's dividend payout ratio is presently 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.