UniSuper Management Pty Ltd Has $1.79 Million Holdings in Molson Coors Beverage (NYSE:TAP)

UniSuper Management Pty Ltd increased its stake in shares of Molson Coors Beverage (NYSE:TAP) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,202 shares of the company’s stock after acquiring an additional 526 shares during the period. UniSuper Management Pty Ltd’s holdings in Molson Coors Beverage were worth $1,788,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Truvestments Capital LLC raised its stake in shares of 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 during the period. Catalyst Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after buying an additional 428 shares in the last quarter. 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 buying an additional 203 shares during the last quarter. Private Trust Co. NA lifted its stake in Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after acquiring an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Molson Coors Beverage by 101.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock worth $56,000 after acquiring an additional 489 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TAP. JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Morgan Stanley upped their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. UBS Group raised their price target 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. Finally, Barclays lowered their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Thursday. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.60.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $60.52 on Monday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.52 and a beta of 0.81. The company has a 50-day simple moving average of $58.11 and a 200 day simple moving average of $57.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. On average, sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed 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. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.11%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

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.