Molson Coors Beverage Company $TAP Position Raised by Clarkston Capital Partners LLC

Key Points

• Clarkston Capital Partners LLC has increased its holdings in Molson Coors Beverage Company by 0.7%, making it the fund's third largest holding at approximately 5.5% of its portfolio.
• Molson Coors reported a quarterly earnings per share of $2.05, beating analysts' expectations, with a revenue of $3.20 billion, although it represents a year-on-year decline of 1.6% in revenue.
• The company announced a quarterly dividend of $0.47, which equates to an annualized dividend of $1.88 and a yield of 3.7%, with a payout ratio of 37.08%.

Clarkston Capital Partners LLC raised its holdings in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,553,212 shares of the company's stock after purchasing an additional 33,535 shares during the quarter. Molson Coors Beverage makes up approximately 5.5% of Clarkston Capital Partners LLC's portfolio, making the stock its 3rd largest holding. Clarkston Capital Partners LLC owned 2.25% of Molson Coors Beverage worth $277,154,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Randolph Co Inc lifted its holdings in Molson Coors Beverage by 26.2% during the fourth quarter. Randolph Co Inc now owns 477,187 shares of the company's stock valued at $27,352,000 after purchasing an additional 98,984 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Molson Coors Beverage by 14.7% during the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company's stock valued at $14,498,000 after purchasing an additional 30,463 shares during the last quarter. Kendall Capital Management lifted its holdings in Molson Coors Beverage by 42.7% during the first quarter. Kendall Capital Management now owns 19,995 shares of the company's stock valued at $1,217,000 after purchasing an additional 5,985 shares during the last quarter. Estuary Capital Management LP purchased a new stake in Molson Coors Beverage during the fourth quarter valued at about $39,052,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Molson Coors Beverage by 7.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company's stock valued at $1,352,000 after purchasing an additional 1,606 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Down 0.5%

TAP stock opened at $51.2980 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company's 50 day moving average is $49.74 and its 200 day moving average is $54.92. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 1.88 and a beta of 0.67. Molson Coors Beverage Company has a 1-year low of $46.94 and a 1-year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.22. The company had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Sell-side analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on TAP. Morgan Stanley decreased their price target 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. decreased their price target 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. The Goldman Sachs Group decreased their price target 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. UBS Group decreased their price target on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. 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 report on Friday, June 27th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $58.12.

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.

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