Landscape Capital Management L.L.C. Has $12.13 Million Stake in Molson Coors Beverage Company $TAP

Key Points

• Landscape Capital Management increased its stake in Molson Coors Beverage by 23.6% in the fourth quarter, buying 49,545 more shares and bringing its total holding to 259,886 shares worth about $12.13 million.
• Wall Street sentiment is mixed: analysts currently rate TAP at an average “Hold”, with a consensus price target of $44.88 after several firms trimmed targets or reiterated neutral/hold views.
• Molson Coors recently reported better-than-expected quarterly results, posting EPS of $0.62 versus $0.36 expected and revenue of $2.35 billion, while also paying a quarterly dividend of $0.48 for a 4.6% yield.

Landscape Capital Management L.L.C. raised its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 23.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 259,886 shares of the company's stock after purchasing an additional 49,545 shares during the period. Molson Coors Beverage makes up approximately 0.8% of Landscape Capital Management L.L.C.'s portfolio, making the stock its 12th biggest holding. Landscape Capital Management L.L.C. owned about 0.13% of Molson Coors Beverage worth $12,131,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fairfax Financial Holdings Ltd. Can boosted its stake in shares of Molson Coors Beverage by 5.9% in the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 1,290,071 shares of the company's stock worth $58,363,000 after buying an additional 71,571 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Molson Coors Beverage in the 3rd quarter worth approximately $8,365,000. Citigroup Inc. boosted its stake in shares of Molson Coors Beverage by 148.5% in the 3rd quarter. Citigroup Inc. now owns 1,364,241 shares of the company's stock worth $61,732,000 after buying an additional 815,348 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $3,194,000. Finally, AIA Group Ltd boosted its stake in shares of Molson Coors Beverage by 132.5% in the 3rd quarter. AIA Group Ltd now owns 88,063 shares of the company's stock worth $3,985,000 after buying an additional 50,192 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d)" rating on shares of Molson Coors Beverage in a research note on Friday, March 27th. Needham & Company LLC cut their target price on Molson Coors Beverage from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. UBS Group cut their target price on Molson Coors Beverage from $50.00 to $45.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $42.00 price objective on shares of Molson Coors Beverage in a research note on Friday, May 1st. Finally, Sanford C. Bernstein dropped their price objective on Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating on the stock in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $44.88.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the sale, the director owned 9,871 shares in the company, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.27% of the stock is owned by insiders.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $41.56 on Friday. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The business's 50 day simple moving average is $42.19 and its 200 day simple moving average is $45.49. The company has a market cap of $7.79 billion, a price-to-earnings ratio of -3.91 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. Molson Coors Beverage's revenue for the quarter was up 2.0% on a year-over-year basis. Sell-side analysts forecast that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a $0.48 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 4.6%. Molson Coors Beverage's dividend payout ratio is presently -18.05%.

Molson Coors Beverage Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada's Molson and the United States' Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.

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