LSV Asset Management Sells 89,898 Shares of Molson Coors Beverage (NYSE:TAP)

LSV Asset Management decreased its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 1.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,282,897 shares of the company's stock after selling 89,898 shares during the period. Molson Coors Beverage makes up about 0.8% of LSV Asset Management's investment portfolio, making the stock its 23rd largest position. LSV Asset Management owned 3.05% of Molson Coors Beverage worth $360,136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TAP. Bessemer Group Inc. raised its stake in shares of Molson Coors Beverage by 5.2% during the fourth quarter. Bessemer Group Inc. now owns 34,698 shares of the company's stock valued at $1,990,000 after purchasing an additional 1,713 shares during the period. Raymond James Financial Inc. acquired a new position in Molson Coors Beverage in the 4th quarter worth $27,660,000. Advisory Services Network LLC grew its stake in shares of Molson Coors Beverage by 175.7% during the fourth quarter. Advisory Services Network LLC now owns 21,098 shares of the company's stock valued at $1,209,000 after acquiring an additional 13,446 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of Molson Coors Beverage by 2.5% in the fourth quarter. Bank of Nova Scotia now owns 24,059 shares of the company's stock worth $1,379,000 after acquiring an additional 579 shares in the last quarter. Finally, Twin Capital Management Inc. boosted its holdings in Molson Coors Beverage by 4.1% in the fourth quarter. Twin Capital Management Inc. now owns 24,611 shares of the company's stock valued at $1,411,000 after purchasing an additional 980 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

TAP has been the subject of several research analyst reports. Berenberg Bank initiated coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 target price for the company. UBS Group upped their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Barclays decreased their price target on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Finally, Morgan Stanley boosted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a report on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Molson Coors Beverage has an average rating of "Hold" and a consensus price target of $64.39.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded down $1.43 during mid-day trading on Tuesday, reaching $59.23. The company had a trading volume of 746,473 shares, compared to its average volume of 2,071,653. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $66.87. The stock has a market cap of $12.00 billion, a PE ratio of 11.07, a P/E/G ratio of 1.52 and a beta of 0.69. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $59.62 and a two-hundred day moving average price of $58.19.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, equities analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.17%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's payout ratio is presently 35.14%.

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.