Los Angeles Capital Management LLC Has $2.31 Million Stock Holdings in Molson Coors Beverage (NYSE:TAP)

Los Angeles Capital Management LLC reduced its holdings in Molson Coors Beverage (NYSE:TAP) by 35.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 40,212 shares of the company’s stock after selling 21,676 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Molson Coors Beverage were worth $2,305,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at $35,000. Gladius Capital Management LP bought a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $42,000. Catalyst Capital Advisors LLC increased its stake in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the period. True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at about $59,000. Finally, Allworth Financial LP raised its position in shares of Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock worth $68,000 after acquiring an additional 297 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.9 %

Shares of NYSE:TAP opened at $61.51 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The business’s 50 day simple moving average is $56.60 and its two-hundred day simple moving average is $56.82. The firm has a market cap of $12.50 billion, a P/E ratio of 11.50, a PEG ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. BNP Paribas began coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. decreased their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $63.27.

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.