Clarkston Capital Partners LLC Sells 2,686,230 Shares of Molson Coors Beverage Company $TAP

Clarkston Capital Partners LLC lowered its holdings in Molson Coors Beverage Company (NYSE:TAP) by 80.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 665,185 shares of the company’s stock after selling 2,686,230 shares during the period. Molson Coors Beverage makes up about 2.2% of Clarkston Capital Partners LLC’s holdings, making the stock its 16th biggest position. Clarkston Capital Partners LLC owned about 0.35% of Molson Coors Beverage worth $28,643,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. boosted its holdings in shares of Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after acquiring an additional 244 shares during the period. Basepoint Wealth LLC bought a new stake in shares of Molson Coors Beverage during the 4th quarter valued at $26,000. Smartleaf Asset Management LLC lifted its holdings in Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after purchasing an additional 221 shares in the last quarter. Larson Financial Group LLC boosted its stake in Molson Coors Beverage by 551.1% in the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock worth $29,000 after purchasing an additional 518 shares during the period. Finally, Clearstead Advisors LLC boosted its stake in Molson Coors Beverage by 223.0% in the 4th quarter. Clearstead Advisors LLC now owns 659 shares of the company’s stock worth $31,000 after purchasing an additional 455 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BNP Paribas Exane decreased their price target on 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. The Goldman Sachs Group boosted their price objective on shares of Molson Coors Beverage from $48.00 to $50.00 in a research note on Friday, May 1st. Evercore decreased 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 report on Tuesday, April 21st. Jefferies Financial Group lowered their target price on shares of Molson Coors Beverage from $43.00 to $41.00 in a research note on Friday, June 12th. Finally, Wall Street Zen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Four 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the sale, the director directly owned 9,871 shares in the company, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.27% of the company’s stock.

Molson Coors Beverage Price Performance

TAP stock opened at $40.06 on Friday. The firm has a 50 day simple moving average of $40.26 and a two-hundred day simple moving average of $44.10. The stock has a market cap of $7.51 billion, a PE ratio of -3.77 and a beta of 0.42. Molson Coors Beverage Company has a one year low of $38.04 and a one year high of $54.82. 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 announced its quarterly earnings data on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the company earned $0.50 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, analysts predict that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 28th will be issued a $0.48 dividend. The ex-dividend date is Friday, August 28th. This represents a $1.92 annualized dividend and a yield of 4.8%. Molson Coors Beverage’s dividend payout ratio (DPR) 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.