Louisiana State Employees Retirement System Has $539,000 Stake in Molson Coors Beverage (NYSE:TAP)

Louisiana State Employees Retirement System decreased its position in Molson Coors Beverage (NYSE:TAP) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,400 shares of the company’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Molson Coors Beverage were worth $539,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TAP. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $35,000. Gladius Capital Management LP acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $42,000. True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $59,000. Allworth Financial LP raised its stake in shares of Molson Coors Beverage by 33.7% in the 3rd 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 period. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $77,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TAP. Barclays lifted their target price on Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. UBS Group lifted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, Morgan Stanley lifted their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Trading Up 0.3 %

Shares of TAP stock opened at $60.55 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.47 billion, a P/E ratio of 13.64, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The stock has a 50 day simple moving average of $56.46 and a 200 day simple moving average of $56.47. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. On average, research analysts predict that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be paid a $0.47 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s payout ratio is 35.14%.

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.