Mitsubishi UFJ Trust & Banking Corp Decreases Holdings in Molson Coors Beverage (NYSE:TAP)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,164 shares of the company’s stock after selling 17,195 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.10% of Molson Coors Beverage worth $11,875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TAP. Truvestments Capital LLC raised its position in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the period. Catalyst Capital Advisors LLC grew its position in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 428 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the last quarter. Private Trust Co. NA raised 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 worth $46,000 after purchasing an additional 276 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 489 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $60.52 on Friday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The stock has a fifty day moving average of $58.11 and a 200 day moving average of $57.69. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate 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 expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 35.14%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Barclays cut their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.60.

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.