AustralianSuper Pty Ltd Raises Position in Molson Coors Beverage (NYSE:TAP)

AustralianSuper Pty Ltd grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 18.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 444,040 shares of the company’s stock after purchasing an additional 67,616 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.22% of Molson Coors Beverage worth $25,452,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TAP. Thompson Siegel & Walmsley LLC purchased a new position in shares of Molson Coors Beverage during the 3rd quarter worth $48,202,000. State Street Corp raised its position in shares of Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after buying an additional 681,757 shares during the period. Randolph Co Inc purchased a new position in shares of Molson Coors Beverage in the 3rd quarter worth $21,754,000. Invenomic Capital Management LP raised its position in shares of Molson Coors Beverage by 131.1% in the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock worth $29,875,000 after buying an additional 294,596 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Molson Coors Beverage by 92.8% in the 3rd quarter. Victory Capital Management Inc. now owns 434,047 shares of the company’s stock worth $24,966,000 after buying an additional 208,974 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on TAP. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. BNP Paribas began coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.73.

Molson Coors Beverage Stock Up 3.0 %

Shares of Molson Coors Beverage stock opened at $60.33 on Friday. The business has a 50-day moving average of $56.50 and a 200-day moving average of $56.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The company has a market capitalization of $12.43 billion, a PE ratio of 13.59, a P/E/G ratio of 2.07 and a beta of 0.85. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. As a group, equities analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

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.