Molson Coors Beverage Company $TAP Shares Bought by Skylands Capital LLC

Skylands Capital LLC increased its stake in Molson Coors Beverage Company (NYSE:TAP) by 63.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 180,650 shares of the company’s stock after acquiring an additional 70,440 shares during the quarter. Molson Coors Beverage makes up 1.1% of Skylands Capital LLC’s holdings, making the stock its 26th largest holding. Skylands Capital LLC owned about 0.09% of Molson Coors Beverage worth $8,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Polianta Ltd purchased a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $1,543,000. JPMorgan Chase & Co. raised its stake in Molson Coors Beverage by 20.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,036,110 shares of the company’s stock valued at $49,828,000 after purchasing an additional 175,587 shares during the period. Swiss National Bank lifted its holdings in shares of Molson Coors Beverage by 5.5% in the second quarter. Swiss National Bank now owns 537,600 shares of the company’s stock valued at $25,853,000 after purchasing an additional 27,900 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Molson Coors Beverage by 182.1% in the second quarter. Gamco Investors INC. ET AL now owns 84,290 shares of the company’s stock worth $4,054,000 after buying an additional 54,410 shares during the period. Finally, Wilsey Asset Management Inc. grew its holdings in shares of Molson Coors Beverage by 4.9% during the third quarter. Wilsey Asset Management Inc. now owns 591,259 shares of the company’s stock valued at $26,754,000 after buying an additional 27,819 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Up 2.2%

Molson Coors Beverage stock opened at $52.00 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.45 and a debt-to-equity ratio of 0.37. Molson Coors Beverage Company has a 1-year low of $42.94 and a 1-year high of $64.66. The firm’s fifty day simple moving average is $48.02 and its 200-day simple moving average is $47.72. The company has a market capitalization of $10.28 billion, a P/E ratio of -4.87 and a beta of 0.48.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, December 5th. Molson Coors Beverage’s payout ratio is -17.60%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $50.00 price objective (down from $53.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 19th. Jefferies Financial Group lowered their price objective on shares of Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Needham & Company LLC cut their target price on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Monday, December 29th. Finally, Piper Sandler dropped their price target on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $53.18.

About Molson Coors Beverage

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.