Core Capital Management & Research inc. Acquires New Holdings in Molson Coors Beverage Company $TAP

Key Points

• Core Capital Management & Research acquired 184,057 Molson Coors shares worth approximately $7.9 million, making TAP about 4.2% of its portfolio. Hedge funds and institutional investors collectively own 78.46% of the company.
• Molson Coors beat quarterly earnings expectations with EPS of $1.58 versus $1.51 forecast and revenue of $3.10 billion, though revenue declined 3.3% year over year. The company announced a quarterly dividend of $0.48 per share, representing an annualized yield of roughly 5%.
• Shares recently traded near $38.53, close to their 52-week low, while analysts maintain a consensus “Hold” rating with an average price target of $44.18.

Core Capital Management & Research inc. bought a new position in Molson Coors Beverage Company (NYSE:TAP - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 184,057 shares of the company's stock, valued at approximately $7,905,000. Molson Coors Beverage accounts for about 4.2% of Core Capital Management & Research inc.'s investment portfolio, making the stock its 4th largest position. Core Capital Management & Research inc. owned approximately 0.10% of Molson Coors Beverage at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its stake in shares of Molson Coors Beverage by 136.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 28,795 shares of the company's stock worth $1,122,000 after buying an additional 16,597 shares during the last quarter. Tidal Investments LLC increased its position in Molson Coors Beverage by 10.0% during the second quarter. Tidal Investments LLC now owns 98,246 shares of the company's stock valued at $3,828,000 after acquiring an additional 8,894 shares during the last quarter. Engineers Gate Manager LP increased its position in Molson Coors Beverage by 714.1% during the second quarter. Engineers Gate Manager LP now owns 87,806 shares of the company's stock valued at $3,421,000 after acquiring an additional 77,020 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Molson Coors Beverage by 175.2% in the second quarter. Integrated Wealth Concepts LLC now owns 21,661 shares of the company's stock valued at $844,000 after acquiring an additional 13,791 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Molson Coors Beverage by 5.1% in the second quarter. NewEdge Advisors LLC now owns 25,358 shares of the company's stock valued at $988,000 after acquiring an additional 1,221 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $38.53 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.72 and a current ratio of 0.88. The stock has a 50-day simple moving average of $41.03 and a two-hundred day simple moving average of $42.14. The firm has a market capitalization of $7.23 billion, a PE ratio of -3.34 and a beta of 0.42. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.51 by $0.07. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Molson Coors Beverage had a positive return on equity of 9.46% and a negative net margin of 17.83%.The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. Analysts forecast that Molson Coors Beverage Company will post 4.81 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.48 per share. The ex-dividend date is Friday, August 28th. This represents a $1.92 dividend on an annualized basis and a yield of 5.0%. Molson Coors Beverage's dividend payout ratio (DPR) is presently -16.64%.

Analysts Set New Price Targets

A number of research firms have issued reports on TAP. TD Cowen upgraded Molson Coors Beverage to a "hold" rating in a research note on Friday, June 26th. Citigroup lowered their price objective on shares of Molson Coors Beverage from $47.00 to $42.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 14th. Piper Sandler dropped their price objective on shares of Molson Coors Beverage from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Friday, August 7th. Weiss Ratings restated a "sell (d)" rating on shares of Molson Coors Beverage in a research report on Wednesday, June 24th. Finally, Sanford C. Bernstein reduced their target price on shares of Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating for the company in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $44.18.

Molson Coors Beverage Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada's Molson and the United States' Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.

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