Los Angeles Capital Management LLC Decreases Holdings in Molson Coors Beverage (NYSE:TAP)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning raised its holdings in shares of Molson Coors Beverage by 14.7% in the 3rd quarter. Creative Planning now owns 18,890 shares of the company’s stock worth $1,087,000 after purchasing an additional 2,418 shares during the period. Private Advisor Group LLC increased its position in Molson Coors Beverage by 0.9% in the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock worth $1,845,000 after buying an additional 277 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Molson Coors Beverage by 1,711.8% in the third quarter. International Assets Investment Management LLC now owns 54,880 shares of the company’s stock valued at $3,157,000 after buying an additional 51,851 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Molson Coors Beverage by 12.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 56,316 shares of the company’s stock valued at $3,239,000 after buying an additional 6,113 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Molson Coors Beverage by 33.7% during the third quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after purchasing an additional 297 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 0.9 %

TAP stock opened at $61.51 on Friday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The stock has a market cap of $12.50 billion, a price-to-earnings ratio of 11.50, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $56.60 and its 200 day moving average is $56.82.

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

Molson Coors Beverage Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Barclays increased their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Company 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.