Sumitomo Mitsui DS Asset Management Company Ltd Has $1.17 Million Holdings in Molson Coors Beverage (NYSE:TAP)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Molson Coors Beverage (NYSE:TAP) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,342 shares of the company’s stock after acquiring an additional 680 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Molson Coors Beverage were worth $1,166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Thompson Siegel & Walmsley LLC acquired a new position in Molson Coors Beverage during the 3rd quarter worth approximately $48,202,000. State Street Corp increased its holdings in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after buying an additional 681,757 shares in the last quarter. Randolph Co Inc bought a new position in shares of Molson Coors Beverage in the 3rd quarter valued at $21,754,000. Invenomic Capital Management LP boosted its holdings in shares of Molson Coors Beverage by 131.1% during the 3rd quarter. Invenomic Capital Management LP now owns 519,377 shares of the company’s stock valued at $29,875,000 after acquiring an additional 294,596 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its position in Molson Coors Beverage by 149.1% during the 3rd quarter. AustralianSuper Pty Ltd now owns 376,424 shares of the company’s stock worth $21,652,000 after acquiring an additional 225,296 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $54.00 on Wednesday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company’s 50 day moving average price is $56.74 and its two-hundred day moving average price is $56.27. The stock has a market cap of $11.12 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.07 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.26%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Analyst Upgrades and Downgrades

Several research firms have commented on TAP. BNP Paribas started coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. Needham & Company LLC began coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 target price on the stock. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, UBS Group decreased their price objective on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.36.

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.