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

LSV Asset Management reduced its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,988,916 shares of the company’s stock after selling 113,612 shares during the period. LSV Asset Management owned about 3.03% of Molson Coors Beverage worth $270,998,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Molson Coors Beverage during the second quarter worth approximately $134,289,000. Royal London Asset Management Ltd. boosted its holdings in shares of Molson Coors Beverage by 317.9% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock worth $98,297,000 after acquiring an additional 1,554,851 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Molson Coors Beverage during the 2nd quarter worth approximately $38,377,000. Arrowstreet Capital Limited Partnership increased its holdings in Molson Coors Beverage by 2,728.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 730,153 shares of the company’s stock valued at $35,113,000 after purchasing an additional 704,334 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Molson Coors Beverage by 17.2% during the 2nd quarter. Invesco Ltd. now owns 4,277,685 shares of the company’s stock valued at $205,714,000 after purchasing an additional 626,639 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 2.4%

Shares of NYSE TAP opened at $53.28 on Thursday. The firm has a market capitalization of $10.53 billion, a PE ratio of -4.99 and a beta of 0.48. 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 firm’s 50-day moving average is $48.16 and its 200-day moving average is $47.76.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.5%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -17.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TAP. Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Monday, December 29th. BNP Paribas Exane cut Molson Coors Beverage from a “hold” rating to a “strong sell” rating and set a $40.00 price target for the company. in a report on Friday, January 16th. Barclays reissued an “underweight” rating and set a $49.00 price objective on shares of Molson Coors Beverage in a report on Friday, January 16th. UBS Group boosted their target price on shares of Molson Coors Beverage from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group reduced their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $53.18.

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.