Molson Coors Beverage Company $TAP Shares Acquired by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC increased its stake in Molson Coors Beverage Company by 18.5%, now holding approximately 387,768 shares valued at $23.6 million.
• Molson Coors recently reported $2.05 earnings per share, exceeding analysts' estimates of $1.83, with a total revenue of $3.20 billion for the quarter.
• The company is set to pay a quarterly dividend of $0.47 on September 19th, which contributes to an annualized dividend yield of 3.8%.

Gotham Asset Management LLC increased its position in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 18.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 387,768 shares of the company's stock after purchasing an additional 60,506 shares during the period. Gotham Asset Management LLC owned 0.19% of Molson Coors Beverage worth $23,603,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage by 230.2% in 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 last quarter. Millstone Evans Group LLC increased its position in 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 position in Molson Coors Beverage in the 1st quarter valued at about $30,000. Financial Management Professionals Inc. increased its position in Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after acquiring an additional 493 shares during the period. Finally, Eastern Bank acquired a new position in Molson Coors Beverage in the 1st quarter valued at about $33,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays dropped their price target on Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Morgan Stanley dropped their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 6th. JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Finally, Roth Capital set a $71.00 target price on Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $58.12.

Molson Coors Beverage Price Performance

TAP stock traded down $0.45 on Tuesday, reaching $49.44. The company had a trading volume of 2,016,725 shares, compared to its average volume of 2,437,479. 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 quick ratio of 0.67 and a current ratio of 0.95. The company's fifty day moving average is $50.26 and its 200 day moving average is $54.35. The company has a market cap of $9.99 billion, a P/E ratio of 9.75, a PEG ratio of 1.84 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted 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 return on equity of 8.61% and a net margin of 7.81%.The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company earned $1.92 EPS. Molson Coors Beverage's revenue was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, research analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

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

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.