Daiwa Securities Group Inc. Has $1.44 Million Stake in Molson Coors Beverage (NYSE:TAP)

Daiwa Securities Group Inc. grew its position in Molson Coors Beverage (NYSE:TAP) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,149 shares of the company’s stock after purchasing an additional 1,277 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Molson Coors Beverage were worth $1,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TAP. Clark Estates Inc. NY grew its position in Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after buying an additional 9,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after buying an additional 563 shares in the last quarter. Unified Investment Management acquired a new stake in Molson Coors Beverage during the fourth quarter worth approximately $871,000. US Bancorp DE grew its position in Molson Coors Beverage by 103.9% during the fourth quarter. US Bancorp DE now owns 19,285 shares of the company’s stock worth $1,106,000 after buying an additional 9,825 shares in the last quarter. Finally, Wilsey Asset Management Inc. grew its position in Molson Coors Beverage by 1.6% during the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock worth $31,557,000 after buying an additional 8,679 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TAP shares. BNP Paribas started coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. reduced their target price 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. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $59.68 on Friday. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.52 and a beta of 0.81. The business has a 50-day simple moving average of $57.17 and a 200 day simple moving average of $57.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.34% and a net margin of 8.17%. On average, 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 announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.15%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio 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.