Palogic Value Management L.P. Grows Stake in Molson Coors Beverage (NYSE:TAP)

Palogic Value Management L.P. lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,488 shares of the company’s stock after purchasing an additional 1,293 shares during the period. Palogic Value Management L.P.’s holdings in Molson Coors Beverage were worth $2,478,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Kestra Private Wealth Services LLC boosted its holdings in Molson Coors Beverage by 1.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock valued at $709,000 after purchasing an additional 174 shares during the last quarter. IMPACTfolio LLC increased its position in shares of Molson Coors Beverage by 4.6% in the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock valued at $246,000 after purchasing an additional 176 shares during the last quarter. Syntax Advisors LLC increased its position in shares of Molson Coors Beverage by 5.0% in the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after purchasing an additional 185 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Molson Coors Beverage by 1.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock valued at $710,000 after purchasing an additional 200 shares during the last quarter. Finally, Kentucky Retirement Systems grew its position in shares of Molson Coors Beverage by 1.5% in the 4th quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock valued at $907,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on TAP shares. UBS Group dropped their target price on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Citigroup reduced their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research note on Wednesday, May 1st. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Piper Sandler started coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price for the company. Finally, Bank of America reduced their price objective on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $65.07.

Molson Coors Beverage Price Performance

NYSE:TAP traded down $0.68 during mid-day trading on Thursday, hitting $50.30. 1,824,855 shares of the company’s stock traded hands, compared to its average volume of 1,899,313. 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 firm’s 50 day simple moving average is $58.75 and its 200 day simple moving average is $61.59. Molson Coors Beverage has a 1 year low of $49.79 and a 1 year high of $70.90. The company has a market cap of $10.66 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.87 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts expect that Molson Coors Beverage will post 5.68 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, June 7th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a yield of 3.50%. Molson Coors Beverage’s dividend payout ratio (DPR) 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.