Clark Capital Management Group Inc. Raises Holdings in Molson Coors Beverage Company $TAP

Key Points

• Clark Capital Management Group Inc. increased its position in Molson Coors Beverage by 54.3% during the 1st quarter, acquiring an additional 267,449 shares to bring its total ownership to 759,783 shares, valued at approximately $46.25 million.
• Molson Coors Beverage announced a quarterly dividend of $0.47 per share, representing a 3.8% dividend yield and a payout ratio of 37.08%.
• The company reported $2.05 EPS in its latest earnings, exceeding estimates, while also indicating guidance for FY 2025 at 5.360-5.540 EPS.

Clark Capital Management Group Inc. lifted its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 54.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 759,783 shares of the company's stock after acquiring an additional 267,449 shares during the quarter. Clark Capital Management Group Inc. owned 0.38% of Molson Coors Beverage worth $46,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Golden State Wealth Management LLC increased its holdings in Molson Coors Beverage by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after buying an additional 290 shares during the last quarter. Millstone Evans Group LLC boosted its stake in Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 255 shares in the last quarter. Elequin Capital LP acquired a new position in Molson Coors Beverage in the first quarter valued at $30,000. Financial Management Professionals Inc. boosted its stake in Molson Coors Beverage by 3,286.7% in the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after acquiring an additional 493 shares in the last quarter. Finally, Eastern Bank acquired a new position in Molson Coors Beverage in the first quarter valued at $33,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock traded down $0.30 during mid-day trading on Tuesday, reaching $49.58. The company had a trading volume of 764,266 shares, compared to its average volume of 2,429,920. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The company has a market capitalization of $10.02 billion, a P/E ratio of 9.78, a P/E/G ratio of 1.84 and a beta of 0.69. The stock's 50-day simple moving average is $50.26 and its 200-day simple moving average is $54.35.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the company posted $1.92 earnings per share. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, equities analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.8%. Molson Coors Beverage's dividend payout ratio (DPR) is 37.08%.

Analyst Ratings Changes

Several equities analysts have issued reports on TAP shares. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Barclays decreased their target price on shares of Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Evercore ISI reduced their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and a consensus price target of $58.12.

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.