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

LSV Asset Management decreased its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,358,569 shares of the company's stock after selling 165,061 shares during the quarter. Molson Coors Beverage accounts for about 0.8% of LSV Asset Management's investment portfolio, making the stock its 16th largest position. LSV Asset Management owned approximately 2.95% of Molson Coors Beverage worth $389,208,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Kestra Private Wealth Services LLC raised its position in Molson Coors Beverage by 19.5% in the third quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company's stock worth $726,000 after acquiring an additional 1,859 shares during the period. International Assets Investment Management LLC raised its position in shares of Molson Coors Beverage by 6,418.1% during the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company's stock valued at $9,268,000 after purchasing an additional 149,093 shares during the period. SkyView Investment Advisors LLC raised its position in shares of Molson Coors Beverage by 3.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company's stock valued at $785,000 after purchasing an additional 408 shares during the period. Metis Global Partners LLC raised its position in shares of Molson Coors Beverage by 24.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company's stock valued at $712,000 after purchasing an additional 2,183 shares during the period. Finally, Beck Bode LLC bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at $1,785,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Up 0.1 %

Shares of TAP traded up $0.05 during trading hours on Friday, reaching $57.85. 2,054,717 shares of the company traded hands, compared to its average volume of 2,096,558. The stock's fifty day moving average price is $64.77 and its 200 day moving average price is $62.36. The company has a current ratio of 0.69, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.00 and a beta of 0.86. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.21. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. Sell-side analysts forecast that Molson Coors Beverage will post 5.67 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

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

Wall Street Analyst Weigh In

TAP has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a "hold" rating in a research report on Wednesday, April 17th. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They issued a "neutral" rating and a $69.00 price target on the stock. Evercore ISI decreased their price target on shares of Molson Coors Beverage from $70.00 to $68.00 and set an "outperform" rating on the stock in a research note on Wednesday. Barclays reduced their target price on shares of Molson Coors Beverage from $67.00 to $62.00 and set an "equal weight" rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $75.00 in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $65.53.

Insider Buying and Selling

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, the chief financial officer now directly owns 60,538 shares of the company's stock, valued at approximately $3,654,679.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.71% of the stock is owned by insiders.

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.