LSV Asset Management Has $271 Million Stake in Molson Coors Beverage Company $TAP

LSV Asset Management reduced its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,988,916 shares of the company’s stock after selling 113,612 shares during the quarter. LSV Asset Management’s holdings in Molson Coors Beverage were worth $270,998,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Caxton Associates LLP acquired a new position in Molson Coors Beverage during the first quarter valued at approximately $202,000. United Services Automobile Association bought a new position in shares of Molson Coors Beverage during the first quarter worth $215,000. Woodline Partners LP grew its holdings in shares of Molson Coors Beverage by 38.7% in the 1st quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after buying an additional 4,056 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after buying an additional 198 shares during the period. Finally, Aberdeen Group plc increased its position in shares of Molson Coors Beverage by 14.0% in the 2nd quarter. Aberdeen Group plc now owns 191,462 shares of the company’s stock valued at $9,207,000 after buying an additional 23,460 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Sandler reduced their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Monday, December 29th. Evercore decreased their price objective on Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Finally, Barclays restated an “underweight” rating and set a $49.00 target price on shares of Molson Coors Beverage in a report on Friday, January 16th. Five equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $53.18.

Molson Coors Beverage Stock Up 2.4%

Molson Coors Beverage stock opened at $53.28 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37. Molson Coors Beverage Company has a 1-year low of $42.94 and a 1-year high of $64.66. The company has a fifty day simple moving average of $48.16 and a 200 day simple moving average of $47.76. The company has a market cap of $10.53 billion, a P/E ratio of -4.99 and a beta of 0.48.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, December 5th. Molson Coors Beverage’s dividend payout ratio is presently -17.60%.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.