Molson Coors Beverage (NYSE:TAP) Holdings Boosted by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. lifted its holdings in Molson Coors Beverage (NYSE:TAP) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 550,539 shares of the company’s stock after acquiring an additional 8,679 shares during the period. Molson Coors Beverage accounts for about 5.8% of Wilsey Asset Management Inc.’s portfolio, making the stock its 8th biggest holding. Wilsey Asset Management Inc. owned approximately 0.27% of Molson Coors Beverage worth $31,557,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Farther Finance Advisors LLC increased its holdings in shares of Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares during the last quarter. Integrated Investment Consultants LLC grew its holdings in Molson Coors Beverage by 4.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after buying an additional 185 shares in the last quarter. Pallas Capital Advisors LLC increased its stake in Molson Coors Beverage by 1.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after acquiring an additional 199 shares during the last quarter. Red Spruce Capital LLC raised its holdings in shares of Molson Coors Beverage by 1.0% during the 4th quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock worth $1,548,000 after acquiring an additional 273 shares in the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Molson Coors Beverage by 0.9% during the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after acquiring an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $54.23 on Monday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a market capitalization of $11.17 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The stock’s fifty day moving average is $57.05 and its two-hundred day moving average is $56.27. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.92 EPS. As a group, analysts expect that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TAP shares. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. decreased their target price 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. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, Barclays lowered their price objective on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $62.36.

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.