LSV Asset Management Lowers Holdings in Molson Coors Beverage (NYSE:TAP)

LSV Asset Management decreased its stake in Molson Coors Beverage (NYSE:TAP) by 0.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,330,841 shares of the company’s stock after selling 27,728 shares during the quarter. Molson Coors Beverage makes up 0.9% of LSV Asset Management’s holdings, making the stock its 18th largest position. LSV Asset Management owned about 2.98% of Molson Coors Beverage worth $425,749,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth about $29,000. Montag A & Associates Inc. purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth about $31,000. Raleigh Capital Management Inc. boosted its stake in shares of Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 501 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Molson Coors Beverage by 46.6% in the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after buying an additional 186 shares during the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TAP shares. UBS Group reduced their price target on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft increased their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Evercore ISI dropped their price target on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Wells Fargo & Company dropped their price target on Molson Coors Beverage from $55.00 to $50.00 and set an “underweight” rating for the company in a research report on Wednesday. Finally, Bank of America dropped their price target on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.13.

Molson Coors Beverage Trading Up 0.1 %

Shares of NYSE TAP traded up $0.07 during trading on Friday, reaching $51.24. The stock had a trading volume of 1,924,177 shares, compared to its average volume of 1,946,115. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69. The business’s 50-day moving average price is $53.10 and its 200-day moving average price is $59.93. The company has a market cap of $10.86 billion, a P/E ratio of 10.23, a PEG ratio of 1.82 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the previous year, the firm posted $0.54 EPS. Molson Coors Beverage’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, June 7th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.76 annualized dividend and a yield of 3.43%. Molson Coors Beverage’s payout ratio is 35.20%.

Molson Coors Beverage Company 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.