LSV Asset Management Decreases Stake in Molson Coors Beverage (NYSE:TAP)

LSV Asset Management lessened its holdings in Molson Coors Beverage (NYSE:TAP) by 0.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,305,611 shares of the company’s stock after selling 25,230 shares during the quarter. LSV Asset Management’s holdings in Molson Coors Beverage were worth $320,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Molson Coors Beverage in the 4th quarter worth about $127,337,000. Capital International Investors boosted its stake in Molson Coors Beverage by 10.7% in the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock valued at $651,849,000 after acquiring an additional 939,142 shares during the last quarter. Ilex Capital Partners UK LLP bought a new position in shares of Molson Coors Beverage during the 1st quarter valued at approximately $53,096,000. Allspring Global Investments Holdings LLC increased its stake in shares of Molson Coors Beverage by 220.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company’s stock worth $32,910,000 after purchasing an additional 336,496 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Molson Coors Beverage by 166.5% in the 4th quarter. KBC Group NV now owns 450,649 shares of the company’s stock worth $27,584,000 after purchasing an additional 281,580 shares during the period. 78.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TAP has been the subject of several research reports. UBS Group increased their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Barclays lifted their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Bank of America dropped their price objective on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Citigroup reduced their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Price Performance

NYSE:TAP traded down $0.04 during trading hours on Friday, hitting $55.77. The stock had a trading volume of 1,687,851 shares, compared to its average volume of 1,958,531. The company has a 50 day simple moving average of $52.87 and a two-hundred day simple moving average of $57.43. The firm has a market capitalization of $11.82 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 2.34 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.24. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share. Research analysts forecast that Molson Coors Beverage will post 5.75 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

Molson Coors Beverage 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.