Jupiter Asset Management Ltd. Has $27.45 Million Stake in Molson Coors Beverage (NYSE:TAP)

Jupiter Asset Management Ltd. reduced its holdings in Molson Coors Beverage (NYSE:TAP) by 0.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 478,924 shares of the company’s stock after selling 1,632 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Molson Coors Beverage were worth $27,452,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. State Street Corp boosted its holdings in Molson Coors Beverage by 8.4% during the third 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 last quarter. Bank of New York Mellon Corp raised its position in shares of Molson Coors Beverage by 14.0% in the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after acquiring an additional 434,250 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Molson Coors Beverage by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock worth $96,562,000 after acquiring an additional 33,234 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Molson Coors Beverage during the third quarter valued at approximately $48,202,000. Finally, RWC Asset Management LLP grew its holdings in Molson Coors Beverage by 17.8% during the fourth quarter. RWC Asset Management LLP now owns 747,184 shares of the company’s stock valued at $42,829,000 after purchasing an additional 113,091 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TAP. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. UBS Group boosted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley raised their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Barclays boosted their price objective on Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.27.

Molson Coors Beverage Price Performance

NYSE TAP opened at $59.37 on Thursday. The firm’s 50 day moving average is $57.01 and its 200-day moving average is $57.29. 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 company has a market capitalization of $12.03 billion, a PE ratio of 11.10, a price-to-earnings-growth 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) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. Equities research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 3.17%. 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 currently 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.