LSV Asset Management Has $293.47 Million Stake in Molson Coors Beverage Company $TAP

LSV Asset Management lessened its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,102,528 shares of the company’s stock after selling 266,970 shares during the period. LSV Asset Management owned 3.02% of Molson Coors Beverage worth $293,471,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC boosted its holdings in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after buying an additional 255 shares during the period. Elequin Capital LP acquired a new position in Molson Coors Beverage during the 1st quarter worth $30,000. Eastern Bank bought a new stake in Molson Coors Beverage during the first quarter valued at about $33,000. Clearstead Trust LLC grew its position in shares of Molson Coors Beverage by 952.8% in the second quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after purchasing an additional 505 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares during the period. Institutional investors own 78.46% of the company’s stock.

Analyst Ratings Changes

TAP has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Morgan Stanley dropped their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a report on Tuesday, November 11th. UBS Group dropped their price objective on shares of Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Finally, Evercore ISI cut their price objective on shares of 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. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.56.

Insiders Place Their Bets

In related news, Director Andrew Thomas Molson purchased 7,500 shares of the stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the transaction, the director directly owned 22,654 shares of the company’s stock, valued at approximately $1,059,980.66. The trade was a 49.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Coors acquired 2,245 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were bought at an average cost of $44.47 per share, with a total value of $99,835.15. Following the completion of the acquisition, the director owned 30,586 shares of the company’s stock, valued at approximately $1,360,159.42. This trade represents a 7.92% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.71% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $46.45 on Monday. The firm has a market cap of $9.18 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65. The firm’s 50-day simple moving average is $46.12 and its 200-day simple moving average is $49.58. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

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.