Meeder Asset Management Inc. Sells 45,177 Shares of Molson Coors Beverage (NYSE:TAP)

Meeder Asset Management Inc. decreased its holdings in Molson Coors Beverage (NYSE:TAP) by 91.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,464 shares of the company’s stock after selling 45,177 shares during the period. Meeder Asset Management Inc.’s holdings in Molson Coors Beverage were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TAP. AIA Group Ltd grew its stake in shares of Molson Coors Beverage by 25.4% in the 4th quarter. AIA Group Ltd now owns 31,320 shares of the company’s stock valued at $1,795,000 after purchasing an additional 6,347 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 348,580 shares of the company’s stock worth $19,981,000 after purchasing an additional 5,446 shares during the last quarter. Allstate Corp acquired a new stake in shares of Molson Coors Beverage during the 4th quarter worth about $324,000. DnB Asset Management AS boosted its position in Molson Coors Beverage by 15.2% in the fourth quarter. DnB Asset Management AS now owns 43,910 shares of the company’s stock valued at $2,517,000 after buying an additional 5,792 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Molson Coors Beverage by 0.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 59,044 shares of the company’s stock worth $3,384,000 after buying an additional 277 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Up 0.7 %

TAP opened at $60.95 on Tuesday. The firm’s fifty day simple moving average is $58.22 and its 200 day simple moving average is $57.76. The stock has a market capitalization of $12.35 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.52 and a beta of 0.81. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. 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 announced its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.71 billion. As a group, research analysts anticipate that Molson Coors Beverage will post 6.35 EPS 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. Investors of record on Thursday, February 27th were given a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.08%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Barclays lowered their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. UBS Group upped 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, Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.60.

Molson Coors Beverage 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.