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

UniSuper Management Pty Ltd boosted 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 filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TAP. Pallas Capital Advisors LLC increased its position in shares of Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after purchasing an additional 199 shares during the period. Venturi Wealth Management LLC grew its stake in Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after buying an additional 202 shares in the last quarter. Truvestments Capital LLC increased its holdings in 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 buying an additional 202 shares during the period. SRS Capital Advisors Inc. raised its position in shares of 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 in the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Molson Coors Beverage by 21.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company’s stock valued at $71,000 after buying an additional 218 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $60.52 on Monday. The firm has a market cap of $12.26 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.81. The stock’s 50 day moving average is $58.11 and its 200 day moving average is $57.72. 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 has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. As a group, research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.11%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Morgan Stanley boosted their price target 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. Citigroup raised 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 research note on Wednesday, February 5th. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.