Clarkston Capital Partners LLC Sells 12,345 Shares of Molson Coors Beverage Company $TAP

Clarkston Capital Partners LLC lowered its position in Molson Coors Beverage Company (NYSE:TAP) by 0.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,351,415 shares of the company’s stock after selling 12,345 shares during the period. Molson Coors Beverage accounts for approximately 3.6% of Clarkston Capital Partners LLC’s portfolio, making the stock its 5th largest position. Clarkston Capital Partners LLC’s holdings in Molson Coors Beverage were worth $156,444,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dodge & Cox lifted its position in shares of Molson Coors Beverage by 29.4% in the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock worth $843,063,000 after purchasing an additional 4,235,029 shares during the period. State Street Corp lifted its position in shares of Molson Coors Beverage by 19.2% in the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock worth $475,886,000 after purchasing an additional 1,693,682 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Molson Coors Beverage by 17.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,572,843 shares of the company’s stock worth $353,502,000 after purchasing an additional 1,147,800 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Molson Coors Beverage by 265.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock worth $136,400,000 after purchasing an additional 2,122,085 shares during the period. Finally, Norges Bank acquired a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $125,755,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 1.5%

TAP opened at $41.56 on Friday. Molson Coors Beverage Company has a 1-year low of $38.04 and a 1-year high of $54.82. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The company has a market cap of $7.79 billion, a P/E ratio of -3.91 and a beta of 0.41. The company has a fifty day moving average price of $42.19 and a two-hundred day moving average price of $45.49.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, beating 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 firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts predict that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

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

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the transaction, the director owned 9,871 shares in the company, valued at approximately $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein dropped their target price on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 26th. Roth Mkm set a $58.00 price target on shares of Molson Coors Beverage in a report on Thursday, February 19th. Morgan Stanley decreased their price target on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. 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. Finally, TD Cowen decreased their price target on shares of Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating for the company in a research note on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.88.

Molson Coors Beverage 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.