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

Key Points

• LSV Asset Management increased its stake in Molson Coors Beverage Company by 1.4% during the first quarter, totaling approximately 6.37 million shares valued at $387.7 million.
• Molson Coors reported a Q1 EPS of $0.50, missing estimates by $0.30, with revenue falling to $2.30 billion, a decline of 11.3% year-over-year.
• The company announced a $0.47 quarterly dividend set to be paid on September 19th, equating to an annualized yield of 3.9% and a payout ratio of 37.83%.

LSV Asset Management lifted its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,369,498 shares of the company's stock after acquiring an additional 86,601 shares during the period. Molson Coors Beverage makes up about 0.9% of LSV Asset Management's portfolio, making the stock its 18th largest holding. LSV Asset Management owned approximately 3.14% of Molson Coors Beverage worth $387,711,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Blueshift Asset Management LLC acquired a new stake in Molson Coors Beverage in the first quarter valued at approximately $522,000. US Bancorp DE raised its position in Molson Coors Beverage by 5.4% in the first quarter. US Bancorp DE now owns 20,326 shares of the company's stock valued at $1,237,000 after purchasing an additional 1,041 shares during the last quarter. Foster & Motley Inc. bought a new stake in shares of Molson Coors Beverage during the first quarter worth about $456,000. Natixis Advisors LLC raised its holdings in Molson Coors Beverage by 50.4% in the 1st quarter. Natixis Advisors LLC now owns 64,917 shares of the company's stock valued at $3,951,000 after buying an additional 21,758 shares during the last quarter. Finally, Bayforest Capital Ltd grew its holdings in Molson Coors Beverage by 735.5% during the 1st quarter. Bayforest Capital Ltd now owns 1,153 shares of the company's stock worth $70,000 after acquiring an additional 1,015 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Shares of TAP traded up $1.03 during midday trading on Wednesday, hitting $50.25. 1,860,078 shares of the company traded hands, compared to its average volume of 2,460,771. The stock has a 50-day moving average of $50.11 and a 200-day moving average of $55.24. The firm has a market cap of $10.16 billion, a P/E ratio of 10.11, a PEG ratio of 2.94 and a beta of 0.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.59. Molson Coors Beverage Company has a one year low of $46.94 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. The firm had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.12 billion. Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 EPS. As a group, sell-side analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is 37.83%.

Insider Transactions at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the transaction, the director owned 27,595 shares in the company, valued at $1,553,322.55. The trade was a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on TAP shares. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Saturday, May 17th. Morgan Stanley dropped their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Barclays lowered their target price on Molson Coors Beverage from $57.00 to $53.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Finally, Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of "Hold" and a consensus price target of $58.29.

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.