Resona Asset Management Co. Ltd. Buys Shares of 53,945 Molson Coors Beverage (NYSE:TAP)

Resona Asset Management Co. Ltd. bought a new stake in Molson Coors Beverage (NYSE:TAP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 53,945 shares of the company's stock, valued at approximately $3,096,000.

Other large investors also recently bought and sold shares of the company. Truvestments Capital LLC lifted its position 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 valued at $34,000 after acquiring an additional 202 shares during the period. Catalyst Capital Advisors LLC lifted its position in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after buying an additional 428 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after acquiring an additional 203 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after purchasing an additional 276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company's stock valued at $56,000 after acquiring an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

NYSE TAP traded down $1.27 on Tuesday, reaching $59.39. 433,295 shares of the stock traded hands, compared to its average volume of 2,070,409. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $66.87. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm's fifty day simple moving average is $59.62 and its 200 day simple moving average is $58.19. The company has a market cap of $12.03 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released 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. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.17%. 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 (DPR) is presently 35.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TAP shares. UBS Group boosted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Berenberg Bank started coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research report on Monday. Barclays dropped their price target on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Finally, Citigroup raised shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and raised their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $64.39.

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.