Clarkston Capital Partners LLC Decreases Stake in Molson Coors Beverage Company $TAP

Clarkston Capital Partners LLC cut its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,351,415 shares of the company’s stock after selling 12,345 shares during the quarter. Molson Coors Beverage accounts for about 3.6% of Clarkston Capital Partners LLC’s portfolio, making the stock its 5th largest position. Clarkston Capital Partners LLC owned about 1.70% of Molson Coors Beverage worth $156,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TAP. Dodge & Cox grew its holdings in shares of Molson Coors Beverage by 29.4% during the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock valued at $843,063,000 after purchasing an additional 4,235,029 shares during the last quarter. Norges Bank bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at approximately $125,755,000. Goldman Sachs Group Inc. grew its holdings in shares of Molson Coors Beverage by 265.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock valued at $136,400,000 after purchasing an additional 2,122,085 shares during the last quarter. State Street Corp grew its holdings in shares of Molson Coors Beverage by 19.2% during the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after purchasing an additional 1,693,682 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Molson Coors Beverage by 317.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock valued at $98,297,000 after purchasing an additional 1,554,851 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TAP. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Morgan Stanley decreased their price target on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. The Goldman Sachs Group lifted their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Evercore cut their target price on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Finally, BNP Paribas Exane cut their target price on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a research report on Wednesday, June 3rd. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $44.88.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the transaction, the director owned 9,871 shares in the company, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Up 1.5%

NYSE:TAP opened at $41.56 on Friday. The firm’s 50 day simple moving average is $42.19 and its 200 day simple moving average is $45.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. Molson Coors Beverage Company has a one year low of $38.04 and a one year high of $54.82. The company has a market cap of $7.79 billion, a PE ratio of -3.91 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period last year, the company earned $0.50 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Molson Coors Beverage Company will post 4.8 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

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

Molson Coors Beverage Company 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.