Clarkston Capital Partners LLC Trims Position in Molson Coors Beverage Company $TAP

Clarkston Capital Partners LLC trimmed its position in Molson Coors Beverage Company (NYSE:TAP) by 20.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,601,775 shares of the company’s stock after selling 951,437 shares during the quarter. Molson Coors Beverage accounts for approximately 3.7% of Clarkston Capital Partners LLC’s holdings, making the stock its 8th biggest holding. Clarkston Capital Partners LLC owned about 1.78% of Molson Coors Beverage worth $173,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TAP. Geneos Wealth Management Inc. increased its holdings in Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after purchasing an additional 198 shares during the period. Signet Financial Management LLC increased its stake in shares of Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock valued at $277,000 after buying an additional 208 shares during the period. Callan Family Office LLC raised its holdings in shares of Molson Coors Beverage by 5.0% during the first quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock valued at $269,000 after acquiring an additional 209 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Molson Coors Beverage by 1.1% during the second quarter. Yousif Capital Management LLC now owns 19,531 shares of the company’s stock valued at $939,000 after acquiring an additional 222 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its stake in Molson Coors Beverage by 1.7% in the second quarter. Penserra Capital Management LLC now owns 15,699 shares of the company’s stock worth $754,000 after acquiring an additional 257 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $50.00 target price (down from $53.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 19th. Evercore ISI decreased their price target on shares of Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Piper Sandler cut their price objective on Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Monday. Finally, Roth Capital restated a “buy” rating and issued a $65.00 target price (down previously from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Five equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $53.59.

Insider Transactions at Molson Coors Beverage

In related news, Director David S. Coors acquired 2,245 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the purchase, the director owned 30,586 shares in the company, valued at $1,360,159.42. The trade was a 7.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew Thomas Molson purchased 7,500 shares of the company’s stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $46.79 per share, with a total value of $350,925.00. Following the completion of the transaction, the director owned 22,654 shares of the company’s stock, valued at approximately $1,059,980.66. This trade represents a 49.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.71% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $46.67 on Friday. The firm has a market cap of $9.22 billion, a P/E ratio of 9.21, a PEG ratio of 1.60 and a beta of 0.65. Molson Coors Beverage Company has a twelve month low of $42.94 and a twelve month high of $64.66. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $45.72 and a 200 day moving average of $49.03.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, research analysts expect 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 will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, December 5th. Molson Coors Beverage’s payout ratio is currently -17.60%.

Molson Coors Beverage 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.