Kingsview Wealth Management LLC Has $393,000 Holdings in Molson Coors Beverage Company $TAP

Kingsview Wealth Management LLC lessened its stake in Molson Coors Beverage Company (NYSE:TAP) by 95.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,420 shares of the company’s stock after selling 189,495 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Molson Coors Beverage were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dodge & Cox increased its position in Molson Coors Beverage by 29.4% in the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock valued at $843,063,000 after acquiring an additional 4,235,029 shares in the last quarter. State Street Corp increased its position in Molson Coors Beverage by 19.2% in the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after acquiring an additional 1,693,682 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Molson Coors Beverage by 22.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,425,043 shares of the company’s stock valued at $290,741,000 after acquiring an additional 1,195,249 shares in the last quarter. Royal London Asset Management Ltd. increased its position in 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 valued at $98,297,000 after acquiring an additional 1,554,851 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Molson Coors Beverage by 21.2% in the 3rd quarter. Schroder Investment Management Group now owns 1,947,454 shares of the company’s stock valued at $88,122,000 after purchasing an additional 340,433 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 0.8%

Molson Coors Beverage stock opened at $38.60 on Thursday. The company’s 50 day simple moving average is $42.50 and its 200 day simple moving average is $45.77. Molson Coors Beverage Company has a fifty-two week low of $38.35 and a fifty-two week high of $54.82. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of -3.63 and a beta of 0.41. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm earned $0.50 EPS. Molson Coors Beverage’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 5.0%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -18.05%.

Insider Activity at Molson Coors Beverage

In other news, Director Andrew Thomas Molson acquired 2,000 shares of Molson Coors Beverage stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average price of $46.67 per share, with a total value of $93,340.00. Following the purchase, the director directly owned 24,654 shares of the company’s stock, valued at $1,150,602.18. The trade was a 8.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, the director directly owned 9,871 shares in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TAP shares. Barclays reduced their target price on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a research note on Friday, May 1st. Evercore reduced their target price on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, April 27th. Finally, BNP Paribas Exane reduced their target price on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a research note on Wednesday. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and a consensus price target of $45.00.

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.