AIA Group Ltd Raises Stake in Molson Coors Beverage (NYSE:TAP)

AIA Group Ltd grew its position in Molson Coors Beverage (NYSE:TAP) by 25.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,320 shares of the company’s stock after purchasing an additional 6,347 shares during the quarter. AIA Group Ltd’s holdings in Molson Coors Beverage were worth $1,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after purchasing an additional 681,757 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Molson Coors Beverage by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after buying an additional 434,250 shares in the last quarter. Norges Bank purchased a new position in shares of Molson Coors Beverage in the fourth quarter worth $142,407,000. Charles Schwab Investment Management Inc. boosted its position in shares of Molson Coors Beverage by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,684,621 shares of the company’s stock worth $96,562,000 after acquiring an additional 33,234 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in Molson Coors Beverage by 5.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 880,537 shares of the company’s stock valued at $50,472,000 after acquiring an additional 42,530 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP opened at $60.95 on Tuesday. The stock has a market capitalization of $12.35 billion, a PE ratio of 11.39, a PEG ratio of 1.52 and a beta of 0.81. The company has a 50 day moving average price of $58.22 and a 200-day moving average price of $57.76. 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 has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share 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 analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Equities analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. 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 yield of 3.08%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s payout ratio is currently 35.14%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Morgan Stanley upped their price objective 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. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the company from $57.00 to $70.00 in a report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Finally, UBS Group lifted their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average target price 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.