Molson Coors Beverage (NYSE:TAP) Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Molson Coors Beverage (NYSE:TAP) by 6.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,934 shares of the company’s stock after acquiring an additional 3,589 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Molson Coors Beverage were worth $3,435,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC raised its position in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. CoreCap Advisors LLC raised its position in Molson Coors Beverage by 10,716.7% in the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock valued at $37,000 after purchasing an additional 643 shares in the last quarter. Quarry LP raised its position in Molson Coors Beverage by 55.1% in the 4th quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after purchasing an additional 254 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its position in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of analyst reports. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Berenberg Bank assumed coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price target on the stock. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, UBS Group dropped their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.71.

Molson Coors Beverage Trading Down 0.4%

NYSE:TAP opened at $56.62 on Tuesday. The stock’s 50 day moving average price is $58.55 and its 200 day moving average price is $58.46. The company has a market capitalization of $11.47 billion, a PE ratio of 10.58, a P/E/G ratio of 1.52 and a beta of 0.73. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. On average, research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.47 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.32%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 37.83%.

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.