Skylands Capital LLC Has $2.29 Million Stake in Molson Coors Beverage Company (NYSE:TAP)

Skylands Capital LLC lifted its stake in Molson Coors Beverage Company (NYSE:TAP - Free Report) by 45.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,625 shares of the company's stock after purchasing an additional 11,675 shares during the quarter. Skylands Capital LLC's holdings in Molson Coors Beverage were worth $2,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. DoubleLine ETF Adviser LP grew its holdings in Molson Coors Beverage by 1.7% in the 4th quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company's stock valued at $590,000 after buying an additional 170 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after buying an additional 202 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after acquiring an additional 203 shares during the period. ProShare Advisors LLC grew its stake in shares of Molson Coors Beverage by 0.4% in the fourth quarter. ProShare Advisors LLC now owns 49,000 shares of the company's stock worth $2,809,000 after acquiring an additional 206 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in Molson Coors Beverage by 21.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock worth $71,000 after acquiring an additional 218 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $47.48 on Friday. The stock has a market capitalization of $9.60 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 1.77 and a beta of 0.72. The company has a current ratio of 0.89, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46. Molson Coors Beverage Company has a 1 year low of $46.94 and a 1 year high of $64.66. The firm has a 50 day moving average of $53.69 and a 200-day moving average of $56.62.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company posted $0.95 EPS. Molson Coors Beverage's revenue for the quarter was down 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, June 6th. This represents a $1.88 annualized dividend and a dividend yield of 3.96%. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.83%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research report on Wednesday. Needham & Company LLC reduced their target price on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Bank of America lowered Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price target for the company from $65.00 to $50.00 in a research note on Friday. Barclays reduced their price objective on Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Finally, UBS Group decreased their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.46.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the transaction, the director now owns 27,595 shares of the company's stock, valued at $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.71% of the stock is currently owned by company insiders.

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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