KG&L Capital Management LLC Purchases New Shares in Molson Coors Beverage Company $TAP

Key Points

• KG&L Capital Management LLC acquired a new position in Molson Coors Beverage Company, purchasing 7,135 shares valued at approximately $351,000 in the second quarter.
• Latest reports show that 78.46% of Molson Coors' stock is owned by institutional investors, with various firms adjusting their ratings and price targets for the company.
• Molson Coors recently announced a quarterly dividend of $0.47 per share, reflecting an annual yield of 4.2% and a payout ratio of 37.08%.

KG&L Capital Management LLC purchased a new position in Molson Coors Beverage Company (NYSE:TAP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,135 shares of the company's stock, valued at approximately $351,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in shares of Molson Coors Beverage by 79.8% during the second quarter. Signaturefd LLC now owns 2,861 shares of the company's stock worth $138,000 after purchasing an additional 1,270 shares in the last quarter. Kendall Capital Management boosted its holdings in Molson Coors Beverage by 40.8% in the 2nd quarter. Kendall Capital Management now owns 28,145 shares of the company's stock worth $1,353,000 after buying an additional 8,150 shares during the last quarter. 1834 Investment Advisors Co. acquired a new position in shares of Molson Coors Beverage during the second quarter valued at approximately $569,000. Patton Fund Management Inc. purchased a new position in shares of Molson Coors Beverage in the second quarter valued at approximately $203,000. Finally, Signet Financial Management LLC boosted its stake in shares of Molson Coors Beverage by 3.7% in the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company's stock worth $277,000 after acquiring an additional 208 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TAP. UBS Group reduced their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Morgan Stanley reduced their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Evercore ISI lowered their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 6th. The Goldman Sachs Group cut their price objective on shares of Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Wells Fargo & Company decreased their target price on shares of Molson Coors Beverage from $58.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $57.99.

Molson Coors Beverage Trading Up 1.0%

TAP opened at $44.87 on Monday. The stock has a market capitalization of $8.87 billion, a PE ratio of 8.85, a P/E/G ratio of 1.63 and a beta of 0.69. Molson Coors Beverage Company has a one year low of $43.80 and a one 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 business's 50 day moving average price is $49.50 and its 200 day moving average price is $52.99.

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, 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 company had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter last year, the firm earned $1.92 earnings per share. The firm's quarterly revenue 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. As a group, equities research analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.2%. Molson Coors Beverage's dividend payout ratio is presently 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.

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