Engineers Gate Manager LP Buys 77,020 Shares of Molson Coors Beverage Company $TAP

Key Points

• Engineers Gate Manager LP increased its Molson Coors stake by 714.1% in the second quarter, purchasing 77,020 shares and bringing its holdings to 87,806 shares valued at approximately $3.42 million.
• Wall Street maintains a “Hold” consensus on TAP, with 4 Buy, 11 Hold, and 4 Sell ratings and an average price target of $44.18.
• Molson Coors reported quarterly EPS of $1.58, ahead of the $1.51 estimate, while revenue declined 3.3% year over year. The company also declared a quarterly dividend of $0.48, representing a 4.9% annualized yield.

Engineers Gate Manager LP increased its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 714.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,806 shares of the company's stock after buying an additional 77,020 shares during the period. Engineers Gate Manager LP's holdings in Molson Coors Beverage were worth $3,421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new position in Molson Coors Beverage in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its stake in Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock valued at $27,000 after acquiring an additional 221 shares during the period. Larson Financial Group LLC increased its holdings in shares of Molson Coors Beverage by 551.1% during the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company's stock valued at $29,000 after acquiring an additional 518 shares in the last quarter. Clearstead Advisors LLC raised its position in shares of Molson Coors Beverage by 223.0% during the fourth quarter. Clearstead Advisors LLC now owns 659 shares of the company's stock worth $31,000 after purchasing an additional 455 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Molson Coors Beverage during the fourth quarter worth approximately $36,000. 78.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TAP. UBS Group lifted their price target on shares of Molson Coors Beverage from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Jefferies Financial Group dropped their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 in a research note on Friday, June 12th. Citigroup reduced their price objective on shares of Molson Coors Beverage from $47.00 to $42.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. TD Cowen raised shares of Molson Coors Beverage to a "hold" rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Molson Coors Beverage from $41.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus price target of $44.18.

Molson Coors Beverage Trading Up 0.1%

Shares of Molson Coors Beverage stock opened at $38.98 on Monday. The stock has a fifty day simple moving average of $40.99 and a 200 day simple moving average of $41.99. Molson Coors Beverage Company has a 12-month low of $37.76 and a 12-month high of $54.82. The company has a market capitalization of $7.31 billion, a P/E ratio of -3.38 and a beta of 0.42. The company has a current ratio of 0.88, a quick ratio of 0.72 and a debt-to-equity ratio of 0.55.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.07. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Molson Coors Beverage had a positive return on equity of 9.46% and a negative net margin of 17.83%.Molson Coors Beverage's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. On average, sell-side analysts anticipate that Molson Coors Beverage Company will post 4.81 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 28th will be issued a $0.48 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.92 annualized dividend and a dividend yield of 4.9%. Molson Coors Beverage's dividend payout ratio is currently -16.64%.

About Molson Coors Beverage

Molson Coors Beverage Company is a global brewer headquartered in Golden, Colorado, and Montreal, Canada. The company produces, markets and distributes beer and other alcoholic beverages through operations in North America, Europe and other international markets.

Its portfolio includes well-known brands such as Coors, Miller, Molson, Carling, Blue Moon, Leinenkugel's, Peroni Nastro Azzurro, Staropramen and Cobra. Molson Coors also offers a range of flavored alcoholic beverages, hard seltzers and other beverages designed to serve changing consumer preferences.

The company traces its history to the founding of Molson Brewery in Montreal in 1786 and the establishment of Coors Brewing Company in Colorado in 1873.

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage Company (NYSE:TAP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.