Elo Mutual Pension Insurance Co Increases Holdings in Molson Coors Beverage (NYSE:TAP)

Elo Mutual Pension Insurance Co raised its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 28.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,027 shares of the company’s stock after purchasing an additional 4,612 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Molson Coors Beverage were worth $1,205,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. HighTower Advisors LLC lifted its stake in Molson Coors Beverage by 123.3% in the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company’s stock worth $1,047,000 after acquiring an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares in the last quarter. US Bancorp DE lifted its position in shares of Molson Coors Beverage by 103.9% in the 4th quarter. US Bancorp DE now owns 19,285 shares of the company’s stock worth $1,106,000 after purchasing an additional 9,825 shares during the period. Unified Investment Management bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $871,000. Finally, Wilsey Asset Management Inc. increased its position in shares of Molson Coors Beverage by 1.6% during the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after buying an additional 8,679 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

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

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

Molson Coors Beverage Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TAP shares. Morgan Stanley lifted their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.60.

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.