Gamco Investors INC. ET AL Grows Position in Molson Coors Beverage Company $TAP

Key Points

• Gamco Investors INC. ET AL increased its holdings in Molson Coors Beverage Company by 83.4% during the first quarter, owning 29,880 shares valued at approximately $1.8 million.
• Molson Coors Beverage reported a quarterly earnings per share (EPS) of $2.05, exceeding analyst expectations of $1.83, but showed a 1.6% decrease in revenue year-over-year.
• The company declared a quarterly dividend of $0.47 to be paid on September 19th, representing an annualized dividend yield of 3.7%.

Gamco Investors INC. ET AL boosted its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 83.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,880 shares of the company's stock after acquiring an additional 13,590 shares during the quarter. Gamco Investors INC. ET AL's holdings in Molson Coors Beverage were worth $1,819,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its position in Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after purchasing an additional 290 shares during the period. Millstone Evans Group LLC raised its position in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 255 shares during the period. Elequin Capital LP acquired a new stake in Molson Coors Beverage during the 1st quarter worth approximately $30,000. Financial Management Professionals Inc. raised its holdings in Molson Coors Beverage by 3,286.7% during the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after buying an additional 493 shares during the period. Finally, Eastern Bank bought a new position in shares of Molson Coors Beverage during the 1st quarter worth approximately $33,000. Institutional investors own 78.46% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on TAP. Piper Sandler decreased their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set a "neutral" rating for the company in a research note on Monday, June 23rd. Citigroup dropped their target price on Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Needham & Company LLC dropped their price target on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and decreased their target price for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $58.12.

Molson Coors Beverage Stock Up 0.5%

Shares of NYSE:TAP traded up $0.23 during trading on Friday, reaching $50.45. 1,714,557 shares of the stock were exchanged, compared to its average volume of 2,573,391. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage Company has a 1-year low of $46.94 and a 1-year high of $64.66. The stock has a fifty day moving average of $49.98 and a two-hundred day moving average of $54.78. The firm has a market cap of $10.20 billion, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 1.84 and a beta of 0.69.

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 for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage's dividend payout ratio is 37.08%.

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.