Molson Coors Beverage (NYSE:TAP) is Wilsey Asset Management Inc.’s 8th Largest Position

Wilsey Asset Management Inc. grew its stake in Molson Coors Beverage (NYSE:TAP) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 550,539 shares of the company’s stock after acquiring an additional 8,679 shares during the quarter. Molson Coors Beverage comprises about 5.8% of Wilsey Asset Management Inc.’s portfolio, making the stock its 8th biggest position. Wilsey Asset Management Inc.’s holdings in Molson Coors Beverage were worth $31,557,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC raised its stake in shares of Molson Coors Beverage by 5.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 34,293 shares of the company’s stock worth $1,966,000 after acquiring an additional 1,867 shares in the last quarter. Stephens Inc. AR grew its holdings in Molson Coors Beverage by 7.5% in the fourth quarter. Stephens Inc. AR now owns 19,610 shares of the company’s stock worth $1,124,000 after purchasing an additional 1,370 shares during the last quarter. AlphaStar Capital Management LLC increased its position in shares of Molson Coors Beverage by 15.5% during the fourth quarter. AlphaStar Capital Management LLC now owns 20,477 shares of the company’s stock worth $1,174,000 after purchasing an additional 2,752 shares in the last quarter. Empirical Finance LLC increased its position in shares of Molson Coors Beverage by 147.1% during the fourth quarter. Empirical Finance LLC now owns 15,899 shares of the company’s stock worth $911,000 after purchasing an additional 9,464 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Molson Coors Beverage by 4.8% during the 4th quarter. Empowered Funds LLC now owns 182,352 shares of the company’s stock valued at $10,452,000 after purchasing an additional 8,335 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of TAP opened at $54.23 on Monday. The business’s 50-day moving average is $57.05 and its two-hundred day moving average is $56.27. The company has a market capitalization of $11.17 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.07 and a beta of 0.85. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP) last posted its 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. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $1.92 earnings per share. Molson Coors Beverage’s revenue for the quarter was down 7.8% compared to the same quarter last year. Research analysts predict that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. UBS Group dropped their price target on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Needham & Company LLC began coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective for the company. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. Finally, Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average target price 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.