Perbak Capital Partners LLP Takes Position in Molson Coors Beverage Company $TAP

Key Points

• Perbak Capital Partners LLP has made a new investment of approximately $357,000 in Molson Coors Beverage Company, acquiring 5,858 shares during the first quarter.
• The company reported a quarterly EPS of $2.05, surpassing analyst expectations of $1.83, alongside a revenue of $3.20 billion, which was higher than estimates of $3.12 billion.
• Molson Coors Beverage has announced a quarterly dividend of $0.47 per share, representing an annual yield of 3.7% and a payout ratio of 37.08%.

Perbak Capital Partners LLP acquired a new position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,858 shares of the company's stock, valued at approximately $357,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake 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 worth $14,498,000 after buying an additional 30,463 shares during the last quarter. Nuveen LLC acquired a new position in Molson Coors Beverage in the first quarter valued at approximately $22,253,000. Kendall Capital Management increased its stake in Molson Coors Beverage by 42.7% during the first quarter. Kendall Capital Management now owns 19,995 shares of the company's stock worth $1,217,000 after acquiring an additional 5,985 shares during the last quarter. Jump Financial LLC increased its stake in Molson Coors Beverage by 205.4% during the first quarter. Jump Financial LLC now owns 24,307 shares of the company's stock worth $1,480,000 after acquiring an additional 16,349 shares during the last quarter. Finally, Estuary Capital Management LP acquired a new stake in Molson Coors Beverage during the fourth quarter worth $39,052,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays cut their target price on Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Citigroup lowered their target price on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. UBS Group lowered their target price on shares of 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. Finally, Evercore ISI decreased their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $58.12.

Molson Coors Beverage Trading Up 0.9%

NYSE:TAP traded up $0.46 during trading hours on Friday, reaching $50.37. 1,787,916 shares of the stock were exchanged, compared to its average volume of 2,069,381. The business has a 50-day moving average of $50.23 and a two-hundred day moving average of $54.51. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.82 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. Molson Coors Beverage Company has a twelve month low of $46.94 and a twelve month high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.83 by $0.22. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.7%. Molson Coors Beverage's dividend payout ratio (DPR) is 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.