Nordea Investment Management AB Buys 103,883 Shares of Molson Coors Beverage (NYSE:TAP)

Nordea Investment Management AB lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 92.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 216,413 shares of the company’s stock after purchasing an additional 103,883 shares during the quarter. Nordea Investment Management AB’s holdings in Molson Coors Beverage were worth $12,383,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State Street Corp increased its holdings in Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after purchasing an additional 681,757 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after purchasing an additional 2,155,842 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after buying an additional 434,685 shares during the period. River Road Asset Management LLC raised its holdings in Molson Coors Beverage by 1.8% in the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock valued at $96,475,000 after buying an additional 29,315 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $48,202,000. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TAP has been the subject of several recent research reports. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Wednesday, January 1st. BNP Paribas started coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, TD Cowen cut their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.00.

Molson Coors Beverage Stock Up 0.8 %

Shares of NYSE TAP opened at $55.62 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.46 billion, a PE ratio of 12.53, a P/E/G ratio of 2.38 and a beta of 0.86. The company’s fifty day simple moving average is $59.36 and its 200 day simple moving average is $55.75. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the business posted $1.92 EPS. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

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.