LSV Asset Management Has $389.21 Million Stock Position in Molson Coors Beverage (NYSE:TAP)

LSV Asset Management cut its holdings in Molson Coors Beverage (NYSE:TAP) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,358,569 shares of the company’s stock after selling 165,061 shares during the period. Molson Coors Beverage makes up approximately 0.8% of LSV Asset Management’s investment portfolio, making the stock its 16th largest position. LSV Asset Management owned about 2.95% of Molson Coors Beverage worth $389,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Asset Management One Co. Ltd. increased its holdings in shares of Molson Coors Beverage by 1.2% during the third quarter. Asset Management One Co. Ltd. now owns 74,853 shares of the company’s stock worth $4,760,000 after purchasing an additional 869 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in Molson Coors Beverage by 7.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,897 shares of the company’s stock valued at $2,156,000 after buying an additional 2,279 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $271,000. Xponance Inc. lifted its holdings in shares of Molson Coors Beverage by 1.6% during the 3rd quarter. Xponance Inc. now owns 26,896 shares of the company’s stock worth $1,710,000 after acquiring an additional 416 shares during the period. Finally, Dakota Wealth Management boosted its position in shares of Molson Coors Beverage by 9.3% during the 3rd quarter. Dakota Wealth Management now owns 3,412 shares of the company’s stock worth $217,000 after acquiring an additional 290 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the sale, the chief financial officer now owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TAP shares. Barclays cut their target price on Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday. Citigroup reduced their price objective on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a research note on Wednesday. Bank of America lowered their target price on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.53.

Molson Coors Beverage Trading Up 0.1 %

Shares of NYSE TAP traded up $0.05 during midday trading on Friday, reaching $57.85. The stock had a trading volume of 2,054,717 shares, compared to its average volume of 2,096,558. The company’s 50 day moving average price is $64.77 and its 200 day moving average price is $62.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.69. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. Molson Coors Beverage’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that Molson Coors Beverage will post 5.67 EPS for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a yield of 3.04%. Molson Coors Beverage’s payout ratio is 35.20%.

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.