Skylands Capital LLC Boosts Stock Position in Molson Coors Beverage Company $TAP

Skylands Capital LLC increased its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 38.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 342,800 shares of the company’s stock after buying an additional 94,475 shares during the quarter. Molson Coors Beverage comprises 1.9% of Skylands Capital LLC’s holdings, making the stock its 11th largest position. Skylands Capital LLC’s holdings in Molson Coors Beverage were worth $14,761,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA grew its holdings in Molson Coors Beverage by 5.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 37,682 shares of the company’s stock valued at $1,623,000 after buying an additional 1,959 shares in the last quarter. Poehling Capital Management INC. raised its holdings in shares of Molson Coors Beverage by 44.8% during the 1st quarter. Poehling Capital Management INC. now owns 28,419 shares of the company’s stock worth $1,224,000 after acquiring an additional 8,794 shares during the period. Foster & Motley Inc. raised its holdings in shares of Molson Coors Beverage by 19.8% during the 1st quarter. Foster & Motley Inc. now owns 81,912 shares of the company’s stock worth $3,527,000 after acquiring an additional 13,514 shares during the period. OLD National Bancorp IN boosted its position in shares of Molson Coors Beverage by 39.9% during the 1st quarter. OLD National Bancorp IN now owns 239,430 shares of the company’s stock valued at $10,310,000 after acquiring an additional 68,235 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Molson Coors Beverage during the 1st quarter valued at about $370,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 2.2%

Shares of TAP stock opened at $41.44 on Friday. Molson Coors Beverage Company has a 1-year low of $38.04 and a 1-year high of $54.82. The firm has a market cap of $7.77 billion, a PE ratio of -3.89 and a beta of 0.41. The company has a 50-day moving average of $41.34 and a two-hundred day moving average of $45.06. 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 (NYSE:TAP) last released its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm earned $0.50 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, analysts predict that Molson Coors Beverage Company will post 4.81 EPS for the current year.

Molson Coors Beverage Announces Dividend

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

Insider Transactions at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, the director directly owned 9,871 shares in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. The Goldman Sachs Group raised their price target on shares of Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Morgan Stanley reduced 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 research report on Monday, May 4th. Finally, BNP Paribas Exane decreased their price objective on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a report on Wednesday, June 3rd. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.88.

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.