Sumitomo Mitsui DS Asset Management Company Ltd Buys 680 Shares of Molson Coors Beverage (NYSE:TAP)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Molson Coors Beverage (NYSE:TAP) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,342 shares of the company’s stock after buying an additional 680 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Molson Coors Beverage were worth $1,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Clark Estates Inc. NY lifted its stake in Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after purchasing 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. Qsemble Capital Management LP increased its stake in Molson Coors Beverage by 23.5% in the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after acquiring an additional 9,234 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after acquiring an additional 9,510 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock valued at $41,202,000 after acquiring an additional 134,689 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 0.6 %

NYSE TAP opened at $54.00 on Wednesday. The stock’s fifty day moving average price is $56.74 and its 200-day moving average price is $56.27. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.12 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.07 and a beta of 0.85. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TAP shares. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, February 2nd. Barclays cut their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. BNP Paribas began coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $74.00 in a report on Friday, November 8th. Finally, Needham & Company LLC began coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 target price for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.36.

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.