Kendall Capital Management Purchases 8,150 Shares of Molson Coors Beverage Company $TAP

Key Points

• Kendall Capital Management increased its stake in Molson Coors Beverage Company by 40.8%, acquiring an additional 8,150 shares, bringing its total holdings to 28,145 shares valued at approximately $1.35 million.
• The recent quarterly earnings report indicated that Molson Coors surpassed expectations, posting $2.05 earnings per share, which is $0.22 above analysts' estimates.
• Molson Coors declared a quarterly dividend of $0.47 per share, yielding 4.2%, which illustrates the company's commitment to returning value to shareholders.

Kendall Capital Management lifted its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 40.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,145 shares of the company's stock after buying an additional 8,150 shares during the quarter. Kendall Capital Management's holdings in Molson Coors Beverage were worth $1,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management grew its position in shares of Molson Coors Beverage by 1.4% during the 1st quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock worth $387,711,000 after buying an additional 86,601 shares in the last quarter. Clarkston Capital Partners LLC boosted its position in Molson Coors Beverage by 0.7% during the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company's stock valued at $277,154,000 after purchasing an additional 33,535 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Molson Coors Beverage by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock valued at $274,144,000 after purchasing an additional 750,388 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Molson Coors Beverage by 16.8% during the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock valued at $251,442,000 after purchasing an additional 595,203 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Molson Coors Beverage by 24.2% during the first quarter. Deutsche Bank AG now owns 2,797,189 shares of the company's stock valued at $170,265,000 after purchasing an additional 544,353 shares in the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Trading Up 1.0%

Shares of NYSE:TAP opened at $44.87 on Friday. Molson Coors Beverage Company has a 52-week low of $43.80 and a 52-week high of $64.66. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.62 and a beta of 0.69. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $49.50 and a 200-day moving average price of $53.08.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.12 billion. During the same period last year, the business posted $1.92 earnings per share. The company's revenue for the quarter 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. Equities analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, September 5th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.08%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TAP. The Goldman Sachs Group dropped their price objective on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler decreased their price target on 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. Needham & Company LLC decreased 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. Barclays reiterated an "underweight" rating and issued a $50.00 price target (up from $49.00) on shares of Molson Coors Beverage in a research note on Friday, September 12th. Finally, Bank of America cut Molson Coors Beverage from a "buy" rating to a "neutral" rating and decreased their price target for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and an average price target of $57.99.

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.

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